AI coding startup Cognition reportedly already in talks to raise at $40B valuation
This new round could deliver at least a $40 billion valuation based on achieving a $1 billion annualized revenue run rate, according to sources cited by Bloomberg. Three months ago, when it announced its last raise, Cognition’s Scott Wu confirmed to TechCrunch that it had achieved a $492 million annualized revenue run rate and that enterprises were growing their usage of Devin by 50% month-over-month for the past six months. Wu, a famed wunderkind programmer himself, also told TechCrunch that Devin is not being sold as a human replacement.
- ▪This new round could deliver at least a $40 billion valuation based on achieving a $1 billion annualized revenue run rate, according to sources cited by Bloomberg.
- ▪Three months ago, when it announced its last raise, Cognition’s Scott Wu confirmed to TechCrunch that it had achieved a $492 million annualized revenue run rate and that enterprises were growing their usage of Devin by 50% month-over-month
- ▪Wu, a famed wunderkind programmer himself, also told TechCrunch that Devin is not being sold as a human replacement.
2 outlets in our directory ran this story, first to last over 10 hours. All of the coverage we found sits in one bucket: centre. That one-sidedness is itself worth noticing.
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| Canonical URL | https://techcrunch.com/2026/08/12/ai-coding-startup-cognition-reportedly-already-in-talks-to-raise-at-40b-valuation/ |
| Publication time | Wed, 12 Aug 2026 18:19:12 +0000 |
| Retrieval time | 2026-08-12T18:21:37.516Z |
| Last seen | 2026-08-12T18:21:37.516Z |
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| Cluster | dexqIAt-NyaK · 2 stories |
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Opening excerpt (first ~120 words) tap to expand
In Brief Posted: 11:19 AM PDT · August 12, 2026 Image Credits:Cognition Julie Bort AI coding startup Cognition reportedly already in talks to raise at $40B valuation Cognition, makers of the AI coding agent Devin, is reportedly already talking to investors about raising another funding round with a big leap in valuation, after it raised $1 billion at a $26 billon valuation in May. This new round could deliver at least a $40 billion valuation based on achieving a $1 billion annualized revenue run rate, according to sources cited by Bloomberg.
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