Anysphere, the company behind the highly popular AI-powered coding tool Cursor, has rejected acquisition offers from multiple parties, including OpenAI, and is instead eyeing a $10 billion valuation, sources close to the company revealed to TechCrunch.

The startup's decision to remain independent comes as its revenue continues to skyrocket, with average annual recurring revenue (ARR) reaching approximately $300 million, according to two people familiar with the matter. This represents a remarkable growth rate, with revenue doubling on average every two months.

Anysphere's rejection of OpenAI's acquisition offer is particularly noteworthy, given the latter's significant resources and influence in the AI space. OpenAI, the company behind the revolutionary ChatGPT language model, had reportedly approached Anysphere with an acquisition offer, but was rebuffed. This marks the second time Anysphere has turned down an acquisition offer from OpenAI, with the first instance reported by CNBC earlier this year.

Despite Anysphere's decision to remain independent, OpenAI remains committed to expanding its presence in the AI coding space. The company has reportedly engaged in talks with over 20 other AI coding startups, with a recent $3 billion acquisition offer made to Windsurf, a smaller but rapidly growing competitor. Windsurf's ARR has surged to $100 million, up from $40 million in February, making it an attractive target for OpenAI.

OpenAI's aggressive pursuit of AI coding startups is likely driven by its need to identify new growth areas, as competitors such as Google's Gemini and China's DeepSeek put pricing pressure on access to foundational models. Moreover, the recent release of AI models by Anthropic and Google that outperform OpenAI's models on coding benchmarks has increased the pressure on the company to expand its offerings.

Buying an established AI coding tool startup like Windsurf or Anysphere would allow OpenAI to tap into their existing user base and avoid the time and resources required to build a similar product from scratch. This strategy is seen as crucial for OpenAI's long-term success, with Chris Farmer, partner and CEO at Signal Fire, noting that "they'll be acquisitive at the app layer. It's existential for them."

The developments in the AI coding space have significant implications for the broader tech industry, with venture capitalists who invest in developer tool startups closely watching OpenAI's moves. As the AI coding market continues to heat up, it remains to be seen how Anysphere's decision to remain independent will impact its growth and competitiveness in the long run.

One thing is clear, however: the AI coding boom is showing no signs of slowing down, with startups like Anysphere and Windsurf leading the charge. As the space continues to evolve, it will be fascinating to see how these companies navigate the challenges and opportunities presented by the rapidly shifting AI landscape.