Anthropic, Cursor backer Accel raises $5 billion for big AI bets

Accel, the venture capital firm that’s backed artificial intelligence companies including Anthropic, Cursor and Perplexity, has raised $5 billion in new funds to keep up its big bets in the age of increasingly valuable artificial intelligence startups.

The firm will dedicate $4 billion to its fifth Leaders fund, focused on writing large checks to late-stage startups around the world, Accel plans to announce Wednesday.