AI programming company Cognition has reached a valuation of $40 billion, surging over 50% in less than 3 months.

According to DataBeat monitoring, the AI programming company Cognition is preparing for another round of funding. Bloomberg, citing sources familiar with the matter, reported that the company is in preliminary talks with investors, planning to raise funds at a valuation of at least $40 billion, with the funding amount expected to exceed $1 billion.

This pace is quite impressive. Cognition had just raised over $1 billion at the end of May, with a post-investment valuation of $26 billion. In less than 3 months, if the new round is completed at $40 billion, the valuation will increase by over 50% again.

However, its revenue is indeed soaring. During the last funding round, Cognition disclosed an annualized revenue of $492 million, with enterprise client usage growing over 10 times in the past year. TechCrunch also revealed at the time that Devin's enterprise usage had maintained an approximately 50% month-over-month growth for 6 consecutive months. In the latest Bloomberg report, the company's annualized revenue is now close to $1 billion, nearly doubling in less than 3 months.

Cognition is known for its Coding Agent Devin, which allows AI to complete engineering tasks such as coding and bug fixes on its own. The community has long questioned Cognition's high valuation and how much moat it has left when facing model vendors with their own Coding Agents like Claude Code and Codex. However, judging from the latest revenue growth rate, investors are at least temporarily willing to continue bidding up its price.