Monday · September 28, 2026  ·  Daily  ·  Newsletters

Resonance network: Quantum InsiderSpace Insider

AI Coding Startup Cognition Reportedly in Talks for New Funding Round at $40B Valuation

Cognition, the company behind AI coding agent Devin, is reportedly in early discussions with investors about a new funding round that could value the company at $40 billion, according to sources cited by Bloomberg. The potential valuation would be tied to Cognition reaching a $1 billion annualized revenue run rate, marking a significant jump from its previous round in May, when the company raised $1 billion at a $26 billion valuation.

At the time of that earlier raise, co-founder Scott Wu told reporters that Cognition had reached a $492 million annualized revenue run rate, with enterprise usage of Devin growing 50% month-over-month over the preceding six months. Wu, known for his background as a prominent young programmer, said Devin is not intended to replace human developers, but rather to handle repetitive, lower-priority engineering tasks that programmers often avoid, such as modernizing outdated software or migrating applications between platforms.

That positioning appears to be resonating with enterprise customers, which Cognition says include Mercedes-Benz, NASA, and Goldman Sachs. The reported new funding talks would represent a substantial valuation increase in a short period, reflecting continued investor enthusiasm for AI coding tools amid rapid enterprise adoption across major companies.

Featured image: Credit: Cognition

James Dargan
About the author
James Dargan

James Dargan is a writer and researcher at The AI Insider. His focus is on the AI startup ecosystem and he writes articles on the space that have a tone accessible to the average reader.

Trending today

Business & Markets

10 Switzerland-Based AI Scale-Ups You Need to Know in 2026

Business & Markets

Heidi Secures $340M at $900M Valuation to Expand AI Care Partner Beyond Clinical Documentation

AI

Amazon Plans $100M Indiana Manufacturing Plant to Support Robotics Network

Business & Markets

Anthropic Says Claude Discovered New CRISPR-Like Enzyme System in Its Biology Lab

a person holding up a cell phone in front of a sign
Business & Markets · Enterprise

Meta’s Muse AI Agent Tops 3.4M Downloads as Meta Opens Early Access to New Features

The AI economy, every weekday morning

The daily briefing on LinkedIn. Free, one tap to follow.

Exclusives

AI Research & Advances

PrismML Brings Its 1-Bit Bonsai LLM to Qualcomm-Powered AI Smart Glasses

AI Cartoon
Media

Guest Post: Catch Me If You Can

a purple and green background with intertwined circles
Insights

OpenAI Discloses Agents Leaked User Images as Transluce Report Details Months of Agent Attacks on Online Databases

AI Use Cases

Kodiak AI Names Dallas–Houston Corridor As First Long-Haul Driverless Launch Lane

AI

The Week Ahead in AI: OpenAI Halts Training, Amodei Dines with Trump, China Considering Nvidia Chip Greenlight, Plus Micron Earnings & Upcoming Events

More in Business & Markets

Latest from the same section
AI

SiMa.ai Raises $150M in Series C Funding at $1.45B Valuation to Expand Physical AI Platform

3 hours ago
AI Cartoon
AI

Guest Post: Catch Me If You Can

8 hours ago
Business & Markets

Ando Emerges From Stealth With $20M to Build a Messaging Platform for Humans and AI Agents

8 hours ago
Business & Markets

Axya Secures $17M CAD in Funding to Help Manufacturers Modernize Procurement with AI

8 hours ago

The AI economy, every weekday morning

The daily briefing plus the weekly Scale-ups to watch edition. Free, no spam, unsubscribe any time.