Express | The third largest revenue player in AI applications, Cursor maker Anysphere, eyes new round valuation of $30 billion
Cursor's ARR Surges to $500 Million — On Track for $1 Billion by Year-End
Image source: YouTube
Programming assistant Cursor, developed by Anysphere, has hit an annual recurring revenue (ARR) of $500 million, ranking third among “native AI” applications after OpenAI and Anthropic. The company projects ARR will reach $1 billion by year-end.
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Valuation Momentum and Investor Interest
- Current valuation offers: Around $30 billion, nearly triple compared to mid-year fundraising.
- Investor activity: Some investors have already purchased shares at the $30B valuation, according to Caplight data.
- Early 2025 valuation: Approx. $2.5 billion (Thrive Capital, Andreessen Horowitz among early backers).
- June 2025 valuation: $9.9 billion.
- Summer offers: Between $18–22 billion, which Anysphere declined.
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Funding and Team
- Over 150 employees
- More than $1 billion raised from:
- Andreessen Horowitz
- Thrive Capital
- Accel
- DST Global
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Exceptional Growth
- ARR in June 2025: $500 million
- Growth rate: Tenfold increase since November 2024
- Bloomberg projection: $1 billion ARR by end of 2025
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Competitive Landscape
Anysphere now faces direct competition from large AI companies with coding assistants:
- Google: Multiple programming tools; paid $2.4 billion to acquire founders/key execs from Windsurf.
- Cognition: Acquired Windsurf’s remaining assets.
- OpenAI: Attempted (unsuccessfully) to acquire Anysphere; promotes Codex.
- Amazon AWS: Launched Kiro coding assistant.
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Strategic Direction
- Developing in-house AI models to reduce reliance on Anthropic and OpenAI.
- Shifting focus: From individual users to enterprise clients.
- Enterprise users include Figma and Stripe.
- NVIDIA endorsement: CEO Jensen Huang called Cursor his “favorite enterprise AI service”; NVIDIA engineers use multiple coding assistants, including Cursor.
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Partnership & Data Licensing Talks
Recent discussions with:
- xAI
- OpenAI
- Anthropic
Potential scope:
- Client-approved code suggestions
- Common developer request patterns
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Expansion and Operations
- Multiple offices in San Francisco
- New Manhattan, New York location
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References
Cursor Maker Anysphere Considers Investment Offers at $30 Billion Valuation — The Information
Compiled by: ChatGPT
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