AI coding startup Cognition is weighing a new funding round at a $70 billion to $80 billion valuation
Source: Business Insider ·
The potential jump in valuation and investor interest underscores the frenzy around AI coding.
From the source
Scott Wu cofounded Cognition in 2023.IMF via Getty ImagesAI coding startup Cogniton is fielding offers for a new funding round.The round could value Cognition between $70 billion and $80 billion, according to people familiar with the matter.The new offers come weeks after the company announced a $2 billion round at a $48 billion valuation.Just weeks after announcing a new round of funding at a $48 billion valuation, AI coding startup Cognition is fielding new investor interest at a much higher price.The startup has received offers valuing it at between $70 billion and $80 billion and is seriously considering a round before the end of the year, according to sources familiar with the matter.The talks around the financing are still early, and valuation targets could still change.Founded in 2023 by Scott Wu, Steven Hao, and Walden Yan, Cognition is best known for Devin, an AI coding agent designed to automate software engineering tasks. The San Francisco-based company's existing…