Andreessen Horowitz Realizes Over $8 Billion from AI Infrastructure Acquisitions

Andreessen Horowitz saw two of its artificial intelligence infrastructure investments exit through acquisitions in August 2026. The deals, involving Cursor and OpenRouter, resulted in a combined stake value exceeding $8 billion for the firm.

SpaceX acquired Cursor, an AI-powered code editor developed by Anysphere, in an all-stock transaction valued at approximately $60 billion. Andreessen Horowitz held a 10% stake in the company, which was valued at $400 million during a $60 million Series A round in 2024. This exit represents a valuation 150 times higher than the firm's initial investment round.

Separately, Stripe purchased OpenRouter for an estimated $7 to $8 billion. OpenRouter functions as a routing platform that directs developer requests to various large language models based on speed, cost, and capability. Andreessen Horowitz invested $20 million in the company during its Series B round, which carried a $1.3 billion valuation. The acquisition price reflects a five to six-fold increase in value since that investment, yielding a return of over 50 times for the firm.