Andreessen Horowitz’s AI bets yield over $8B in value
Two acquisitions in five days turned early-stage AI infrastructure bets into one of the most profitable venture streaks in recent memory
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 to over $1 billion at the acquisition price.
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OpenRouter built its business as a kind of switchboard for AI models, allowing developers to route requests to different large language models depending on cost, speed, and capability.
A16z invested in OpenRouter’s Series B at a $1.3 billion valuation. The exit at roughly $7 to $8 billion means the company’s value grew five to six times between that round and Stripe’s offer.