AI software maker Cursor secured $2.3 billion in fresh capital at a $29.3 billion post-money valuation, nearly tripling its worth since June, as investors crowd into tools that automate coding. Backers in the round include Accel, Thrive Capital, Andreessen Horowitz, DST Global, Coatue, Nvidia and Google. The San Francisco startup, born out of research lab Anysphere in 2022, said its developer assistant has surpassed $1 billion in annualized revenue and its workforce has grown past 300. Cursor faces intensifying competition from OpenAI, Anthropic and other entrants building AI coding assistants, and previously fielded acquisition interest from OpenAI. Chief Executive Michael Truell said Cursor isn’t planning an IPO in the near term, with priorities centered on research and team expansion.
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