Key Insights: SpaceX stock price fell 3% after the company completed its $60 billion Cursor acquisition. Cursor shareholders gained rights to receive 389,289,254 SpaceX Class A shares. SpaceX
SpaceX stock price fell 3% to $137.52 in early Friday trading after the company completed its $60 billion Cursor acquisition. The decline extended Thursday’s losses as investors also approached a large share unlock scheduled for August 20.
Meanwhile, the transaction added millions of SpaceX shares, restricted stock units, and options to the company’s equity structure.
The SpaceX stock price closed around 3% lower at $141.29 on Thursday. However, that level remained slightly above the company’s $135 initial public offering price.
SpaceX Stock Price | Source: Yahoo Finance Friday’s early decline brought the SPCX stock price closer to its IPO level. Shares also traded about 30% below their June 16 closing high of $201.80.
Meanwhile, another equity supply event will arrive less than one week after the Cursor transaction. According to a regulatory filing with the US SEC, approximately 319 million shares could become available on August 20.
The scheduled unlock follows the company’s June public offering and the recent decline in SPCX stock. However, the filing only identifies the number of shares that could become available.
Against that market backdrop, SpaceX completed its acquisition of Cursor on August 14, 2026. SpaceX subsidiary X67 Inc. merged into Anysphere as part of the transaction.
Cursor survived the merger and became a wholly owned subsidiary of SpaceX. Notably, the companies structured the $60 billion purchase around SpaceX Class A shares.
Cursor Announcement | Source: X Cursor’s common and preferred shares converted into rights to receive 389,289,254 SpaceX Class A shares. The companies based that conversion on Cursor’s implied equity value of $60 billion.
Additionally, the calculation used SpaceX’s volume-weighted average closing price over the seven trading days preceding the close. That formula determined the equity exchange underpinning the completed acquisition.
Vested Cursor restricted stock units also converted into rights to receive 1,752,426 SpaceX Class A shares. Applicable tax withholding will reduce the distributions received by individual holders.
Meanwhile, SpaceX will provide cash for any fractional shares resulting from the conversion. The company also assumed Cursor’s unvested restricted stock units.
Those awards became approximately 29,128,326 SpaceX restricted stock units. Furthermore, SpaceX assumed Cursor stock options and converted them into roughly 44,365,047 Class A purchase options.
The company issued the transaction shares under the Section 4(a)(2) registration exemption. That provision applies to transactions that do not involve a public offering.
Alongside the acquisition, Elon Musk discussed plans for artificial intelligence during an employee meeting. He expects AI revenue to exceed every other SpaceX revenue category in September 2026.
Moreover, Musk expects AI revenue to significantly surpass space-related revenue during the fourth quarter. He also identified artificial intelligence and robotics as central to the company’s long-term future.
That direction covers both hardware and software operations. Meanwhile, Musk plans to train Grok using SpaceX information and internal knowledge.
Employee ideas, beliefs, and technical knowledge will help shape Grok’s training and values. Additionally, Musk expects Grok 4.7 to outperform xAI’s existing models and provide greater engineering utility.
The AI plans follow SpaceX’s first earnings release. Quarterly revenue nearly doubled from the previous year to $7.8 billion.
However, spending reached $18.3 billion, more than six times the earlier level. Most of that expenditure went toward artificial intelligence as the SpaceX stock price traded near its IPO price.
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