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, which sells the popular AI coding assistant Cursor, confirmed that it raised a $900 million round at a staggering $9.9 billion valuation.

The round 鈥� first reported by last week聽 鈥� was led by and included investment from , and . Rumors of the deal had swirled last month.

Bloomberg dubbed Anysphere as 鈥渢he fastest growing startup ever.鈥� Indeed, the 3-year-old San Francisco-based startup has crossed $500 million in annual recurring revenue, according to that publication鈥檚 sources. That鈥檚 up significantly from the $300 million in mid-April.

Notably, investors can鈥檛 stop writing checks to Anysphere, with the company raising three funding rounds in less than one year鈥檚 time. It was last December when announced a $105 million Series B led by that valued the company at $2.6 billion. That was just four months after raising a $60 million Series A.

Since being founded, the company has raised $2 billion, data.

Artificial intelligence-powered coding has become a hit with investors as the use case seems to have taken off inside large enterprises as a way to save developers鈥� time.

It seems to have also spurred M&A interest. In May, said it would acquire AI-assisted coding tool 鈥� previously called Codeium 鈥� for about $3 billion. The deal is believed to be the generative AI giant鈥檚 biggest acquisition to date, .

OpenAI tried to buy Anysphere before turning its attention to Windsurf.

Whether it鈥檚 coding, model design or security, big money continues to pour into AI.

Per 兔子先生传媒鈥檚 global funding report, AI was the leading sector for venture funding in the first quarter, with $59.6 billion invested. The first quarter also marked the strongest quarter for AI funding ever, with an astonishing 53% of global funding going to the AI sector alone.

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• Eye On AI: OpenAI鈥檚 Potential Windsurf Deal Could Be The Start Of A New M&A Trend

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