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Look, I need you to understand something: Cursor just closed a $2.3 billion funding round at a $29.3 billion valuation. In January—literally ten months ago—this company was worth $2.6 billion. That's a 12x increase in less than a year for a coding assistant.

Let me say that again: a coding assistant is now valued higher than most Fortune 500 companies.

Cursor isn't just another AI wrapper slapped onto VSCode. The company crossed $1 billion in annual recurring revenue, making it one of the fastest-growing software companies in history. They hit $100 million ARR within 12 months of launch, then scaled to $300 million by June, and now they're past a billion. For context, that's faster than Stripe, faster than Snowflake, faster than basically any SaaS darling you've heard VCs jack themselves off about.

Half the Fortune 500 uses this thing. Nvidia's CEO publicly said 100% of their engineers use it. These aren't random startups—these are the companies writing the actual code that runs the world.

What makes this round fascinating isn't just the number—it's who participated. Nvidia and Google both jumped in alongside traditional VCs like Accel and Coatue. Why? Because they understand something crucial: developer velocity is the new competitive moat.

Cursor's building their own AI model called Composer, trained specifically on real engineering workflows. They're not relying on OpenAI or Anthropic anymore—they're going vertical. This matters because OpenAI literally tried to acquire them twice and failed. Then OpenAI went shopping for Windsurf instead, reportedly for $3 billion.

Think about that dynamic. The company that makes ChatGPT couldn't build a better coding tool, so they tried to buy the competition.

The AI coding market is projected to hit $100 billion by 2030, and it's consolidating fast. We're watching the category winner emerge in real-time. Cursor's $29.3 billion valuation at $1 billion ARR implies a 29x revenue multiple—normally insane, but justified when you're redefining how software gets built.

Companies using Cursor report 2-6x improvements in shipping speed. That's not incremental—that's structural. When your engineers can ship that much faster, you're not buying a tool, you're buying market advantage.

The thing is, we're still early. 2026 will determine if Cursor maintains dominance or if OpenAI's next model disrupts them. But right now? They've got proprietary tech, enterprise distribution, and the best developers in the world using their product daily.

That's not hype. That's a category being born.