SBF Invested $200,000 for Approximately 5% Stake in Cursor, Now Worth About $3 Billion If Not Sold

On April 22, AI programming startup Cursor’s developer Anysphere completed a $400,000 Pre-Seed funding round in April 2022, co-invested by Alameda Research and Heroic Ventures. Alameda invested $200,000 in Anysphere, acquiring approximately 5% of the shares. Bankruptcy documents from FTX reveal that in April 2023, the FTX bankruptcy management sold the shares held by an entity under Alameda Research in Anysphere for $200,000. Today, SpaceX announced a partnership with Cursor to jointly develop the next generation of coding and knowledge work AI. The specific terms include Cursor granting SpaceX an option to acquire the company later this year for $60 billion; if SpaceX does not exercise this option, it will instead pay $10 billion as a collaboration fee. Currently, Cursor is valued at $60 billion, and based on this valuation, the shares previously sold by FTX are worth approximately $3 billion.