Washington, April 23, 2026: A major development in the global tech industry has emerged as SpaceX, led by Elon Musk, is preparing to acquire an AI coding startup for up to $60 billion.
The startup, known as Cursor, was co-founded by Pakistani-origin entrepreneur Sualeh Asif along with his colleagues under their parent company Anysphere.
The agreement gives SpaceX the option to purchase Cursor later this year. If the acquisition does not go through, SpaceX will instead pay $10 billion to collaborate with the company.
Cursor is among a select group of AI firms—alongside OpenAI and Anthropic—that specialize in AI-powered code generation tools. The platform is already widely used, with developers from over 50,000 companies relying on it for coding tasks.
Originally from Karachi, Sualeh Asif pursued higher education at the Massachusetts Institute of Technology after studying locally. He also represented Pakistan in the International Mathematical Olympiad between 2016 and 2018.
Cursor has seen rapid growth, with annual revenues exceeding $1 billion. Its valuation surged to $29.3 billion in November 2025 after raising $2.3 billion in funding, making it one of the fastest-growing AI startups globally.