SpaceX said it has an agreement giving it the right to acquire artificial intelligence startup Cursor for $60 billion later this year or to pay $10 billion for the companies’ work together, part of the Elon Musk-run firm’s efforts to catch up with rivals in AI coding tools.

Musk’s rocket, satellite and artificial intelligence giant announced the deal in a post on X, saying the two companies are “now working closely together to create the world’s best coding and knowledge work AI.”

Source: SpaceX