Cognition targets $40B valuation as AI coding agent hits $1B ARR
Cognition, maker of the Devin AI coding agent, is already courting investors for a round that could lift its valuation to $40 billion, up from $26 billion after a $1 billion raise in May. The push depends on hitting a $1 billion revenue run rate, a target the startup says it’s near after reporting $492 million ARR and adoption by Mercedes‑Benz, NASA and Goldman Sachs.