Amazon-backed Anthropic (AMZN) recently saw two key leaders of its Claude Code product jump ship to rival Anysphere, which is the company behind the AI coding tool Cursor, according to The Information. Boris Cherny, who led the development of Claude Code, will now be Anysphere’s chief architect and head of engineering. Cat Wu, who was the product manager for Claude Code, is joining Anysphere as head of product. This is an interesting move because Cursor depends on Anthropic’s AI technology to run its app, therefore making Anysphere one of Anthropic’s biggest customers. As a result, this hiring shows just how fierce the competition is in the AI world.
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Indeed, Anthropic’s revenue has jumped to an annual pace of $4 billion, or about $333 million per month, which is nearly four times more than at the start of the year. At Anysphere, Cherny and Wu are expected to focus on building advanced features that automate complex coding tasks. It is worth noting that as AI coding tools grow in popularity, companies like OpenAI and Amazon’s AWS have also launched similar products in order to keep up with demand.
Even with these staffing changes, Anysphere maintains that its partnership with Anthropic is still strong. In fact, Co-founder Sualeh Asif called Anthropic “one of our closest partners” and said that its technology powers much of Cursor. In addition, Cursor’s own growth is accelerating, as it recently surpassed $500 million in annual recurring revenue, more than double its pace from March. Still, both companies have major costs, with Anthropic expected to spend $3 billion this year after burning through $5.6 billion in 2024.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 47 Buys and one Hold assigned in the past three months. Furthermore, the average AMZN stock price target of $242.98 per share implies 10.2% upside potential from current levels.
