The index is said to have surpassed $2 billion in annual revenue

AI coding assistant Cursor’s annual revenue has surpassed $2 billion, a metric calculated by multiplying the most recent month’s revenue by 12, according to a Bloomberg source. The four-year-old startup has seen its revenue run rate double over the past three months, this person says.

It seems that the timing of the revelation came to confront the recent wave of doubts. Last week, tweets went viral questioning whether Cursor’s momentum had stalled, citing high-profile defections by individual developers to competing tools — particularly Anthropic’s Claude Code.

Founded in 2022, Cursor initially sold its products to individual developers. However, over the past year, it has focused more on attracting large corporate buyers, which now account for nearly 60% of revenue, according to Bloomberg.

While some individual developers and small startups have switched from Cursor to Claude Code, which is seen as more competitively priced, this appears to be a drain on higher-spending enterprise customers who tend to stick around longer.

In addition to CloudCode, OpenAI’s Codex programming tool is also vying for a share in the fast-growing market for AI-powered software development. Other startups in this space include Replit, Cognition, and Lovable.

Cursor was last valued at $29.3 billion when it raised a $2.3 billion funding round co-led by Accel and Coatue in November.

The index did not immediately respond to our request for comment.