SpaceX Finalizes $60 B Acquisition of AI Startup Cursor; CPP Investments Raises Takeover Bid for ReNew Energy

SpaceX has officially completed its acquisition of AI coding startup Cursor for approximately $60 billion in an all‑stock transaction, marking one of the largest ever acquisitions of a VC‑backed startup. Concurrently, Canada Pension Plan Investment Board and ReNew Energy Global’s CEO, Sumant Sinha, have increased their previously proposed takeover offer to $7.02 per share—valuing the company at about $2.8 billion on a fully diluted basis.

SpaceX Closes $60 B AI Deal for Cursor

SpaceX has finalized its acquisition of Cursor, the AI startup behind the popular coding assistant, in a $60 billion all‑stock deal that became effective on August 14, according to a regulatory filing. The move strengthens Elon Musk’s AI ambitions under the SpaceXAI banner and accelerates its competitive push against Anthropic and OpenAI in enterprise AI tooling. Cursor’s employees are being integrated into SpaceX’s AI division following the deal closure. This transaction ranks among the largest tech acquisitions to date, and stems from an April option agreement that offered SpaceX the choice to acquire Cursor outright or pay a $10 billion partnership fee instead. Reporters note the deal is a key strategic step to bolster Musk’s AI product suite in the rapidly growing coding‑AI segment.

CPP Investments Raises Final Offer for ReNew Energy

A consortium led by CPP Investments and ReNew Energy Global CEO Sumant Sinha has submitted its final non‑binding takeover proposal, offering $7.02 per share in cash for the company. The offer, outlined in an August 11 filing, was elevated from the initial $6.75 per share proposal announced in May and represents a valuation near $2.8 billion on a fully diluted basis. The proposed transaction would be executed via a UK scheme of arrangement, subject to shareholder and court approvals. The revised bid reflects a premium over ReNew’s recent trading levels and underscores institutional confidence in its expanding clean‑energy platform, which includes over 20 GW of gross generation capacity and growing solar manufacturing capabilities.

Both developments carry notable implications for investors: SpaceX’s aggressive acquisition underscores the escalating capital competition in AI infrastructure, while CPP Investments’ enhanced bid for ReNew illustrates the continued momentum in large-scale renewables investments.

Investors will now monitor, respectively, SpaceXAI’s product rollout and integration of Cursor’s technology, as well as the progress and outcome of ReNew Energy’s takeover process.