SpaceX will officially acquire Cursor for $60 billion Stuart Isett\/Fortune<\/p>\n Just as the prophecy foretold\u2014or maybe just as the paperwork disclosed\u2014SpaceX will officially, finally, buy Anysphere, the parent company of the AI coding agent Cursor, for $60 billion in stock.<\/p>\n The deal comes mere days after SpaceX\u2019s market debut at $135 per share; it\u2019s now trading at more than $200 per share, valuing the company at $2.64 trillion and placing it among the five most valuable American corporations.<\/p>\n The goal, as it was when the companies tentatively agreed to merge<\/a> in late April, was to give SpaceX (which, since February, is the combined SpaceX and xAI) a robust coding agent to compete with rivals Anthropic (and its Claude Code), OpenAI (Codex), Microsoft (Github Copilot), and Google (Jules).<\/p>\n \u201cFor the past few months, SpaceXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon,\u201d SpaceX said in a statement<\/a>. “We look forward to working closely with the Cursor team to advance our frontier AI capabilities.\u201d<\/p>\n Celebrating back at Cursor HQ in San Francisco is CEO Michael Truell and his cofounders Sualeh Asif, Arvid Lunnemark, and Aman Sanger; all retained individual 4.5% stakes in the company, making them each paper multibillionaires in their mid-20s.<\/p>\n At Fortune\u2019s Brainstorm AI gathering<\/a> late last year, Truell told the audience that the company is well-positioned to influence enterprise AI adoption more broadly.<\/p>\n “Some of what’s working in our space, in the AI coding space, I think will start to work for other areas of knowledge work,\u201d he said. \u201cAnd that’s in particular being able to delegate full tasks to the AI and having the AI really be able to work with the same tools that humans can work with and not just go and gather information, but then also make changes and actually take action for you.” \u2014AN<\/p>\n OpenAI logs $21 billion in losses against $13 billion in revenue<\/p>\n OpenAI\u2019s financial statements show steepening losses at the company, according to copies obtained by blogger Ed Zitron<\/a> and the Financial Times<\/a>.\u00a0<\/p>\n OpenAI filed with the SEC for an IPO expected later this year, so the numbers give us a taste of what its Form S-1 might say.\u00a0<\/p>\n Here\u2019s what its 2025 numbers look like<\/a> compared to 2024: Revenue was $13.07 billion, up from $3.7 billion. Cost of revenue was $7.5 billion, up from $2.65 billion. R&D totaled $19.18 billion, up from $7.81 billion. Sales and marketing was $5.73 billion, up from $1.11 billion. General and administrative was $1.57 billion, up from $907 million.<\/p>\n Total costs and expenses in 2025 were $34 billion, up from $12.48 billion. And crucially, loss from operations was $20.92 billion, up from $8.78 billion.<\/p>\n In short, the company\u2019s losses far outstrip its sales.\u00a0<\/p>\n On the bright side, losses as a percentage of sales are in decline. In 2024, OpenAI spent $2.37 to generate every $1 in revenue. In 2025, that ratio declined to $1.60 in expenses for every dollar it took in.<\/p>\n Is there a path to profitability? Maybe. OpenAI\u2019s two biggest expenses are R&D and marketing. Budget cuts there, coupled with an ability to raise prices or win new sources of revenue, could see the company move into the black over time.\u00a0<\/p>\n Still: Cutting R&D would be the most difficult part of that, given that AI companies can only hold onto their customers by generating the best-performing models. \u2014Jim Edwards<\/p>\n White House won\u2019t allow G7 nations to regain access to Anthropic\u2019s Mythos 5<\/p>\n As the Trump administration maintains its export ban on Anthropic\u2019s new Mythos 5 and Fable 5 AI models for national security concerns, it is reportedly unwilling to make a \u201ccarve-out\u201d for allies.<\/p>\n New reports say<\/a> the White House won\u2019t allow G7 member countries to regain access to Anthropic\u2019s latest AI models despite a request from U.K. Prime Minister Keir Starmer to make an exception for British nationals and companies. (So much for that \u201cspecial relationship<\/a>.\u201d)<\/p>\n The administration\u2019s export ban bars the use of the models by anybody outside the U.S. or foreign nationals. Given the scale of that restriction for a piece of globally available software, which would include some of Anthropic\u2019s own employees, the San Francisco AI company opted to simply pull access to the tools worldwide.<\/p>\n In a way, the White House channeled Anthropic\u2019s pragmatism upon receiving Starmer\u2019s request, believing a carve-out would be \u201ccompletely illogical,\u201d an official told the New York Post<\/a>.<\/p>\n In the meantime, true resolution awaits. The Trump administration and Anthropic continue to negotiate about the terms on which access to the models could be restored. \u2014AN<\/p>\n More tech<\/p>\n \u2014Apple AirPods with cameras for AI<\/a> are reportedly coming in 2027 alongside 20th anniversary iPhones.<\/p>\n \u2014Google launches Android 17 and Wear OS 7<\/a>, first on Pixel devices.<\/p>\n \u2014Snap debuts new Specs<\/a>, its first \u201cfully standalone\u201d augmented reality glasses, that will ship in the fall for nearly $2,200.<\/p>\n \u2014Z.ai, the Chinese firm formerly called Zhipu<\/a>, launches its GLM-5.2 model that it says excels at agentic and coding tasks and so-called \u201clong horizon\u201d capabilities.<\/p>\n \u2014U.S. Justice Department requests that the court dismiss<\/a> an NAACP lawsuit over xAI\u2019s gas turbines, which alleges Clean Air Act violations that adversely affect nearby Black communities.<\/p>\n![\"Cursor](\"https:\/\/www.europesays.com\/ai\/wp-content\/uploads\/2026\/06\/54972338504_a662daa49a_k.jpg\"\/)
<\/a>Cursor co-founder and CEO Michael Truell speaking at Fortune Brainstorm AI 2025 in San Francisco, California.<\/p>\n