Pakistani Co-founder joins billionaire club as Cursor hits $29.3B valuation

NEW YORK: The Pakistani entrepreneur became a part of the fast-growing AI coding platform Cursor because he co-founded the company with three others.

Anysphere, which operates Cursor, achieved a $29.3 billion valuation after it secured $2.3 billion in new funding. Forbes estimates that each cofounder, Michael Truell, Aman Sanger, Sualeh Asif from Karachi, and Arvid Lunnemark, together now own more than $1.3 billion worth of company shares.

Since its 2022 launch, Cursor has become one of the most popular AI-powered code editors, which now operates across the globe to support millions of developers and tens of thousands of teams.

The platform has attracted major companies like Nvidia, Adobe, Uber, Shopify, and PayPal as its customers. Anysphere reported that its yearly revenue now exceeds $1 billion, which demonstrates how quickly customers are adopting its products.

The startup, which four friends from the Massachusetts Institute of Technology (MIT) established, has received over $3.3 billion in funding from major venture capital firms.

Cursor experienced exceptional growth because its annual recurring revenue increased from $1 million to $100 million within one year. Arvid Lunnemark, who started the company, left in 2025 to create a business that develops improved AI safety systems.

The platform allows engineers to create, edit, and debug code through advanced AI models which it provides. The system has developed Composer, which functions as its new model that generates code at high speeds while executing tasks with minimal human intervention.

The rising AI valuations have created billion-dollar fortunes for Cursor founders who now belong to a group of young billionaires that are transforming the entire technology industry.