AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Cognition, an AI coding startup, is in talks to raise a $40 billion valuation, following a previous $26 billion round, as its AI coding agent Devin generates $492 million in annualized revenue and sees a 50% monthly increase in enterprise usage. The new round could reach a $40 billion valuation if it achieves a $1 billion annualized revenue run rate. CEO Scott Wu emphasized that Devin is not intended to replace humans but to handle repetitive, low-value tasks like software updates and platform migrations.
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