The reason is the same as EVERY IPO now. The initial valuation is overpriced, like they all are... so shares are sold to make a profit from that whole they can.

Cursor just gives an excuse they can point to here where normally they don't have an excuse.

Because the rich twats got out and left the rest with t he bag???

AI is bullshit, SpaceX was arguably an ok business before AI was attached to it and played the equivalent economic role of cement blocks on the feet of a person trying to swim.