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Fortune

Beatrice Nolan

Cursor has growing revenue and a $29 billion valuation—but CEO Michael Truell isn't focused on an IPO

Michael Truell Cursor IPO Term Sheet

(Credit: Stuart Isett/Fortune)

Good morning, tech reporter Beatrice Nolan here, filling in for Allie Garfinkle. We just wrapped up Fortune’s Brainstorm AI conference in San Francisco, where apparently everyone wants to be the next trillion-dollar company.

Amid the bubble trouble and agentic optimism, we also heard from Cursor CEO Michael Truell about how the company is feeling about the—increasingly hot—competition and a potential IPO.

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