Andreessen, Thrive Poised to Gain From SpaceX’s Cursor Bid (1)

Andreessen Horowitz and Thrive Capital are poised for a multibillion-dollar windfall from their early investments in Cursor if Elon Musk’s SpaceX moves forward with an agreement to acquire the artificial intelligence coding startup for $60 billion.

Andreessen Horowitz is the largest outside shareholder in the startup, with a roughly 10% stake that would be worth about $6 billion at the estimated transaction price, according people familiar with the matter. The venture firm backed Cursor multiple times, including leading the startup’s Series A funding round at a $400 million valuation and co-leading a follow-up financing at a $2.5 billion valuation.

Thrive is the ...