SpaceX Is Planning to Buy Startup Cursor 30 Days After IPO (1)

SpaceX expects to proceed with its acquisition of artificial intelligence coding startup Cursor 30 days after Elon Musk’s company begins trading publicly, according to people familiar with the matter.

Musk’s rocket, satellite and AI giant is expected to file for an initial public offering as soon as Wednesday and list its shares on June 12, Bloomberg has reported. If the plan goes as expected, SpaceX would be on track to acquire Cursor in July.

If the deal doesn’t go through, SpaceX would pay Cursor a $10 billion breakup fee in cash, said the people, who asked not to ...