SpaceX’s purchase of coding startup Cursor is a key part of Elon Musk’s efforts to catch up on rivals amid intense competition in AI development.

SpaceX and Cursor had agreed to a deal earlier this year that gave the rocket company an option to buy the AI firm.

SpaceX will move forward with its $60 billion acquisition of artificial intelligence startup Cursor as Elon Musk’s space exploration and AI company seeks a competitive edge…