SAN FRANCISCO: Cursor, an AI code-generation startup co-founded by Pakistani-born entrepreneur Sualeh Asif, has entered into a landmark $60 billion acquisition agreement with Elon Musk’s SpaceX, according to multiple reports on Thursday.
SpaceX confirmed that the deal grants it the option to acquire Cursor later this year for $60 billion. If the acquisition does not go through, SpaceX will instead pay $10 billion for its collaboration with the company. The partnership aims to combine Cursor’s advanced AI coding tools with SpaceX’s massive computing infrastructure, including its Colossus training supercomputer, to develop highly capable AI models.
Cursor, developed by Asif and his co-founders at MIT under their company Anysphere, has rapidly emerged as a major player in the AI space. The platform uses artificial intelligence to automate coding tasks and is already widely adopted by developers and enterprises worldwide. According to reports, the company has crossed $1 billion in annualised revenue, making it one of the fastest-growing AI startups.
Originally from Karachi, Sualeh Asif studied at Nixor College before attending the Massachusetts Institute of Technology (MIT), where he also represented Pakistan at the International Math Olympiad from 2016 to 2018. During his time at MIT, he co-founded Cursor and previously launched an AI-powered search engine startup.
The platform is now used by millions of developers across more than 50,000 organisations, including major companies such as Nvidia, Adobe, Uber, and Shopify. Cursor had already reached a valuation of $29.3 billion in late 2025 after raising $2.3 billion in funding from leading investors like Accel and Coatue.
Former IT minister Umar Saif praised Asif as a role model for Pakistani youth, highlighting his journey from a middle-class background to building a globally impactful technology company at a young age.
