AI coding startup Cursor is nearing new funding in which the four-year-old company would raise at least $2 billion in fresh capital, according to four sources familiar with the matter. Returning investors Thrive and Andreessen Horowitz are expected to lead the financing at a $50 billion valuation, prior to the new capital injection, the people said.

Battery Ventures, a new investor, may also participate in the financing, according to two sources. Strategic investor Nvidia is also expected to write a check, one person said.

Although the round is already oversubscribed, the deal terms are not final and may still change.

The financing, if completed, would nearly double Cursor’s previous $29.3 billion post-money valuation, assigned to the company during its last fundraise six months ago.

Despite fierce competition from other AI-coding offerings, such as Anthropic’s Claude Code and OpenAI’s revamped Codex, Cursor’s revenue continues to climb rapidly.

Cursor forecasts ending 2026 with an annualized revenue run rate of more than $6 billion, two people said. This trajectory implies the company expects to at least triple its annualized revenue over the next 10 months. In February, Cursor reached $2 billion in annualized revenue, calculated by projecting its most recent monthly sales over a year, Bloomberg reported.