AI Coding Firm Cognition AI Nears $1 billion Funding at $47 billion Valuation
Cognition AI, an AI coding startup, is close to closing a new funding round of about $1 billion, which would lift its valuation to $47 billion. This follows a $1 billion round roughly three months ago at a $26 billion valuation, implying an 80% increase. The company's AI engineering agent Devin serves clients including Citi, Goldman Sachs, and the U. S. military. Annualized revenue now exceeds $900 million, up from $492 million at the end of May 2026.
Cognition AI, a startup focused on AI-powered programming, is nearing the close of a new funding round of approximately $1 billion, which would raise its valuation to $47 billion. About three months ago, the company completed a $1 billion funding round at a $26 billion valuation; the new round would represent an increase of roughly 80%.
The company's AI engineering agent, Devin, can autonomously complete programming tasks and counts Citi, Goldman Sachs, and the U. S. Army and Navy among its clients. Cognition AI's annualized revenue currently exceeds $900 million, compared with $492 million at the end of May 2026.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for Artificial Intelligence, with intensity 60/100 and 70% confidence over a short term horizon.
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.