Cursor, an AI coding tool startup, raised $2.3 billion, boosting its valuation to $29.3 billion. The company has seen rapid growth, amassing over $1 billion in annual revenue and expanding its workforce to over 300 employees. Despite its success, Cursor's CEO stated they are not planning an IPO in the near future.

Cursor is reportedly in the process of raising funds at a valuation of $9 billion, with significant interest from prominent venture capital firms including Thrive Capital, Andreessen Horowitz (a16z), and Accel. This funding round highlights the growing valuation and investor confidence in Cursor's potential within the tech industry.