Cognition set to raise $1 billion at $47 billion valuation - Bloomberg

Artificial intelligence coding startup Cognition AI is planning to raise approximately $1 billion in a new funding round, according to Bloomberg. This would value the company at around $47 billion, a significant increase from its previous valuation of $26 billion in May. The final raise could even surpass the $1 billion mark due to strong demand from investors.

Cognition has received nearly $10 billion in investor interest, according to the report. The talks are still ongoing and the terms could still change. This potential valuation is a sharp increase from the $10.2 billion valuation secured in a September 2025 funding round. Cognition's revenue has surged, reaching more than $900 million in annualized revenue, up from $492 million in late May.

The company is known for Devin, an AI engineering agent designed to automate software-development tasks. The focus has shifted to enterprise customers as demand for AI coding tools accelerates. Recent investor interest has been boosted by a surge in valuations for AI coding companies, with SpaceX's $60 billion acquisition of rival Cursor in August.

The latest financing, if completed at the reported valuation, would show how quickly investors are repricing AI companies that show growing revenue.