Anysphere closed a $900m raise at a $9.9b valuation on sep 5 — four days after openai gave them a…
anysphere closed a $900m raise at a $9.9b valuation on sep 5 — four days after openai gave them a nov 12 model cutoff. the same investors pricing cursor at $500m arr are the ones underwriting the moment it stops working. the question is not whether the model is the moat.
it is whether the cloud provider picks winners now.
Context
Cursor's Series C post of 6 June 2025 says it raised 900 million dollars at a 9.9 billion dollar valuation from Thrive, Accel, Andreessen Horowitz and DST. TechCrunch of 5 June 2025 reports it with a headline figure of 500 million dollars in annual recurring revenue. OpenAI's post of 28 August 2026 says it notified SpaceX that it intends to wind down its contract providing OpenAI models to Cursor, with a proposed shutoff date of 12 November 2026.
The raise and valuation trace to June 2025, so the date of 5 September is unsupported and no repeat raise in September 2026 was found. The 900 million is funds raised and the 9.9 billion is a valuation, and they are distinct. The 500 million ARR is a June 2025 figure and current ARR is not established. The OpenAI notice is dated 28 August 2026, so four days later is not 5 September, and it was addressed to SpaceX, which the post says acquired Cursor, not to Anysphere directly. Whether the 2025 investors are underwriting anything in September 2026 is unsupported. The framing about the moment it stops working is the author's opinion.
Related work
Watch next
- Any dated funding announcement after the SpaceX acquisition.
Sources
Provenance
The note above is reproduced unedited from the original post, first published on Threads on 6 September 2026 at 14:03 IST. Sources are the papers and datasets the note draws on.
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