Alex Dudov
People are looking again at a previous investment from FTX because SpaceX has a contract that allows it to buy Cursor for a price that reaches $60 billion.
By the account of Ash Crypto, FTX put approximately $200 000 into Anysphere, which is the business that creates the Cursor AI code editor. To settle its debts during its bankruptcy, FTX sold this interest for a price that is almost the same as the initial cost.
Documents from the bankruptcy court verify the $200 000 payment - but the claim that FTX owned 5 % of the business is not present in official records.
Price surge highlights missed upside
On the secondary market, the prices for shares show how the value of Cursor is increasing. In February 2026, the calculated price for one share is approximately $639.69. As a result the price is more than 7 700 % higher than the prices at the beginning of the business.
For the different times of funding, the growth of the value is visible:
- In 2022, the price is approximately $2.17 for each share.
- In late 2024, the price is approximately $69.92.
- In mid-2025, the price is approximately $233.97.
- In late 2025 and 2026, the price is more than $630.
Due to those numbers, it is clear that Cursor changed from a new business into a platform for AI developers that is expanding at a high speed.
Why FTX couldn’t capture the upside
It is a fact that FTX did not gain from this growth because the company failed in late 2022. When the bankruptcy started, managers handled the assets to pay back the people who are owed money. On that account they did not keep investments for a long time.
With this strategy, the managers sold assets like Anysphere early to get cash. And they did not keep them through the time when the market for AI increased. By nature early investments in businesses are hard to sell and have a high chance of loss. If a company is reorganizing, it is hard to keep the assets.
If the 5 % ownership is a fact, that portion of the company is worth approximately $3 billion now based on the $60 billion valuation from the SpaceX deal. To reach this amount, the return is 15 000 times the initial cost.
On this matter the $60 billion amount is for a possible purchase and is not a finished sale. As it stands SpaceX has a choice to buy the company at a later date in 2026.
Alex Dudov
