Cursor

Cursor is owned by Anysphere and, by Mitch Ashley's April 2026 count, used by more than half the Fortune 500. Ashley describes a company that sells access to models it does not own, with margin compression from paying market price for the Anthropic and OpenAI models it routes to customers while competing with both. The agreement announced on 21 April 2026 addresses that substrate problem: SpaceX gains the right to buy Cursor for $60 billion during the year, or to pay $10 billion for a continuing compute and collaboration partnership, and Cursor's own Composer models move onto xAI's Colossus cluster in Memphis. The deal preempted a $2 billion round led by Andreessen Horowitz, Thrive Capital and Nvidia at a $50 billion valuation. Microsoft reportedly examined an acquisition and passed, which Ashley reads as channel conflict with GitHub Copilot.

The revenue figures land inconsistently across dates: $500 million ARR in one measure, and ARR doubling in a single quarter to $2 billion in Bain's May 2026 brief.

Cursor also acts as a standards participant. It sat on the technical steering committee that published Agent Plugins 1.0.0 alongside Amazon, Microsoft, OpenAI and Vercel, a packaging format for Agent Skills and MCP servers. Anthropic, which built both packaged components, is absent from that maintainer list.

Pricing is the other recurring thread. RedMonk recorded community anger at confusing price changes during the vibe coding summer of 2025, and by September 2025 Cursor, Claude Code and Kiro had converged upward.