Cursor, an AI coding firm, is valued at $29 billion

Following the release of the company's in-house model and 2.0 platform, AI coding platform Cursor announced a new $2.3 billion round at a $29.3 billion valuation, nearly tripling its worth since June and marking the third funding round this year. The specifics: According to Cursor, the platform "now produces more code than any other agent in the world," and the company has officially crossed $1 billion in annualized sales. In just two years, the company has expanded to 300 people, apparently turning down purchase bids from a number of significant AI firms. In October, the business unveiled Composer 1, its first internal model, along with a new 2.0 platform that can run up to eight coding helpers on its own. As one of the leaders of the AI vibe-coding tsunami that has produced several significant winners, Cursor's hockey-stick growth is a meteoric increase. Although many believed that companies like OpenAI, Anthropic, and other cutting-edge behemoths would destroy the app-layer, Cursor has demonstrated that there are multiple ways to take a piece of the massive AI coding market.