4 days ago
FTX’s bankruptcy property sold Alameda Research’s aboriginal stake successful Anysphere, the startup down AI codification exertion Cursor, for $200,000 successful 2023. SpaceX announced a $60 cardinal enactment to get the aforesaid institution connected April 21.
Key Takeaways:
- FTX’s property sold Alameda’s Anysphere stake for $200K successful 2023; it is present worthy an estimated $500 million.
- By April 2026, Cursor served 67% of Fortune 500 firms and crossed $1 cardinal successful annualized revenue.
- SpaceX secured a $60 cardinal Anysphere acquisition enactment connected April 21, with a determination expected successful 2026.
From a $400K Seed Round to a $60 Billion Target
In April 2022, Alameda Research, the trading limb of crypto speech FTX, contributed $200,000 to Anysphere’s $400,000 pre-seed backing round. The concern gave Alameda an aboriginal equity stake successful the institution gathering what would go 1 of the astir wide adopted artificial quality (AI)-powered codification editors connected the market.
FTX, past the world’s third-largest crypto speech by trading volume, collapsed successful November 2022 aft revelations that Alameda had been drafting connected lawsuit deposits. As the bankruptcy property worked done plus disposals to money creditor repayments, the Anysphere presumption was sold successful 2023 for the aforesaid $200,000 Alameda primitively paid.
Image source: XHow Far Cursor Has Traveled Since
The institution has since go a cardinal sanction successful AI-powered bundle development. Anysphere raised $900 cardinal successful a backing circular led by Thrive Capital, pushing its valuation to $9 billion. At that figure, the equity sold by the FTX property would beryllium worthy an estimated $500 million.
By April 2026, Cursor had surpassed 1 cardinal regular progressive users and generated much than 150 cardinal lines of endeavor codification per day. The level counts 67% of Fortune 500 companies among its clients and crossed $1 cardinal successful annualized recurring revenue. Fundraising discussions successful the days earlier the SpaceX announcement placed Anysphere’s valuation supra $50 billion.
On April 21, SpaceX and Anysphere announced a strategical concern nether which SpaceX secured an enactment to get the institution outright for $60 billion, oregon wage $10 cardinal for associated improvement of coding AI models utilizing its Colossus supercomputer.
As Bitcoin.com News reported, the woody aims to brace Cursor’s AI-native codification exertion with SpaceX’s compute infrastructure to physique what some companies described arsenic “the world’s champion coding and cognition enactment AI.”
The Cost of an Early Exit
Wu Blockchain flagged connected April 22 that Alameda’s $200,000 stake was placed successful April 2022, 7 months earlier FTX’s collapse, and was subsequently sold astatine outgo by the estate’s liquidators.
For FTX creditors, the Anysphere disposal stands arsenic 1 of the much notable missed opportunities of the bankruptcy process. The property has conducted several organisation rounds with recoveries surpassing 100% successful nominal dollar presumption for galore claimants. A $2.2 cardinal distribution approved successful aboriginal 2026 targeted elder creditor classes. Whether the Anysphere merchantability volition look immoderate reappraisal successful the ongoing proceedings has not been disclosed.
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