Andreessen Horowitz’s AI bets yield over $8B in value

Andreessen Horowitz just had the kind of week that venture capitalists daydream about during partner meetings. Within a five-day stretch in August 2026, two of the firm’s AI infrastructure portfolio companies were acquired in blockbuster deals, leaving a16z sitting on combined stakes worth more than $8 billion. The one-two punch came from SpaceX’s acquisition of Cursor, the AI-powered code editor built by Anysphere, for an estimated $60 billion in an all-stock deal, and Stripe’s purchase of OpenRouter for roughly $7 to $8 billion. The Cursor windfall SpaceX acquired Cursor for $60 billion, paying entirely in stock. That’s a staggering number for a company that was valued at just $400 million during its $60 million Series A round in 2024. As the largest external stakeholder with approximately 10% ownership, a16z’s slice of that deal comes out to roughly $6 billion. The firm participated in Cursor’s Series A at a $400 million valuation. Two years later, the exit valuation was 150 times that number. OpenRouter’s quieter, still massive exit Stripe acquired the AI model routing platform for approximately $7 to $8 billion, and a16z’s early $20 million investment in the company has grown ...