Claude Code Revenue Hits $2.5B in February, Overtakes Cursor's $2B; Cursor Launches Self-Developed Model

According to Beating, Anthropic's Claude Code surpassed Cursor in annualized revenue in February 2026, hitting $2.5 billion compared to Cursor's $2 billion, prompting mass user migration to the new rival tool. Anthropic executives had privately assured Cursor management that Claude Code was merely academic research with no large-scale commercialization plans before launch.

The competitive threat intensified when Anthropic cut off model supply to rival tool Windsurf, signaling potential supply risks for Cursor. On January 5, Cursor initiated emergency all-hands meetings to develop proprietary models. The company's Composer 2.5, released in May, now incorporates over 85% internally developed work, reducing dependence on major AI provider APIs while maintaining low-cost and high-concurrency advantages.