SpaceX has agreed to buy AI coding start-up Cursor for $60bn (£45bn) just days after its bumper initial public offering (IPO). Elon Musk's rocket company will take over Anysphere, which makes the artificial intelligence coding agent.

Elon Musk's SpaceX said on Tuesday it would acquire Anysphere, the software firm behind the popular AI coding agent Cursor, for $60 billion, in a bid to ramp up its presence ​in the enterprise AI market.

Elon Musk has a history of setting bold targets and then failing to achieve them . His latest forecasts for SpaceX revenue are more than double what his bankers expected.

The broader market rally gives the rocket and AI company’s shares a boost, following a stellar trading debut last week.

Elon Musk says SpaceX could reach $1 trillion in annual revenue by 2030, giving SPCX investors a fresh valuation question after its public debut.

SpaceX jumped more than 19% in its stock market debut, valuing the company at $2.1 trillion and boosting Elon Musk's wealth.

Elon Musk thinks SpaceX (NASDAQ: SPCX) will have $1 trillion in revenue in 2031. Its revenue last year was just shy of $19 billion. According to CNBC, Goldman Sachs forecasts $470 in 2030. Morgan Stanley’s forecast is $330 billion.

SpaceX (SPCX) shares rose about 6% in premarket trading Monday after Chief Executive Elon Musk outlined an extraordinarily ambitious revenue target that would require the company to expand at a pace far beyond current Wall Street expectations.