Cognition in talks for funding round valuing AI coding startup at $40 billion

Cognition, the AI startup behind the Devin coding agent, is in early talks with investors for a new funding round that could value the company at $40 billion or more. The discussions come less than three months after the company raised $1 billion at a $26 billion valuation, reflecting strong investor demand for one of the most closely watched companies in AI coding. The reported round also comes as Cognition’s annualized revenue run rate is said to be approaching $1 billion, underscoring why the company’s rapid growth matters to investors and the broader AI software market.