In August 2026, two of Andreessen Horowitz's AI infrastructure portfolio companies were acquired in major deals, generating combined stakes worth over $8 billion for the firm.
SpaceX acquired Cursor, the AI-powered code editor built by Anysphere, for $60 billion in an all-stock transaction. As the largest external stakeholder with approximately 10% ownership, a16z's stake from this deal is worth roughly $6 billion. The firm invested in Cursor's Series A at a $400 million valuation, making the exit valuation 150 times higher.
Stripe purchased OpenRouter, an AI model routing platform, for approximately $7 to $8 billion. A16z's early $20 million investment has grown to over $1 billion at the acquisition price, representing a 50x-plus return.
