ChainThink report, according to TechCrunch, AI coding startup Cursor is nearing completion of a new funding round with a size of at least $2 billion, post-money valuation around $50 billion, nearly doubling from its $29.3 billion valuation six months ago.

This round is led by existing investors Thrive Capital and Andreessen Horowitz, with Battery Ventures and strategic investor NVIDIA expected to participate as well. The fundraising has already exceeded target, though deal terms remain under negotiation.

Cursor expects annualized revenue to surpass $6 billion by end-2026, representing at least a threefold increase from the $2 billion annualized revenue disclosed in February this year.

The company has achieved slight positive gross margin through launching its proprietary Composer model in November last year and integrating low-cost third-party models (such as China’s Kimi), with enterprise segments already achieving gross margin profitability, while individual developer accounts remain unprofitable.