SpaceX is launching into new territory with an agreement to purchase AI startup Cursor for $60 billion in stock.
According to CNBC, Cursor built an AI coding tool to help software developers generate, edit and review code. It was founded in 2022.
The company also said it reached over $1 billion in annual revenue last year.
Shares of SpaceX have grown quickly, and on Tuesday the company topped Amazon and Microsoft by market cap, becoming the fourth most valuable company in the U.S.
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The acquisition is expected to close later this year.
