AI startup Cognition in talks for funding at $40 billion valuation

The company behind AI software engineer Devin is reportedly negotiating a major new investment round.

Reported45 sec read

Smartphone calculator on desk with financial charts behind

Aug 12: AI startup Cognition in talks for funding at $40 billion valuation

Photo: Jakub Żerdzicki · Unsplash

What happened

AI startup Cognition is holding discussions to raise new capital, according to Bloomberg News. The talks value the company at approximately $40 billion. Cognition develops Devin, an AI tool designed to write and debug software autonomously. The report notes that negotiations are early and terms could still change.

The context

Capital continues to flow quickly into AI startups that automate software development. A $40 billion valuation would make Cognition one of the highest-valued private AI firms in the world.

Sources

TradingView ↗ via Google News Reported

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