Gate News message, April 25 — AI coding startup Cognition is in early talks to raise hundreds of millions of dollars or more at approximately a $25 billion valuation, according to people familiar with the matter. Interest has increased following SpaceX’s acquisition of a rival AI coding startup.
Cognition President Russell Kaplan stated the company has seen heightened interest from customers and potential employees following the announcement. Founded in 2023, Cognition develops AI coding tools for businesses, with its flagship product Devin serving as an autonomous software engineering agent. The company previously raised $400 million at a $10.2 billion valuation after acquiring Windsurf assets.
Devin operates in a sandboxed environment with its own browser and command line, capable of accepting requests, completing work, and submitting finished pull requests for human review. Nubank, a major Brazilian digital bank, deployed a fleet of Devins for a large-scale code migration, while other companies use the product to address security vulnerabilities and scale engineering capacity.
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