Coding-agent startup Cognition AI is close to completing a funding round that would value the company at roughly $47 billion, seeking about $1 billion against more than $10 billion in investor interest. The valuation would nearly double Cognition’s $26 billion mark from May 2026, fueled partly by investor enthusiasm after SpaceX acquired rival coding platform Cursor and reportedly made an acquisition approach to Cognition that was rejected. Led by 30-year-old CEO Scott Wu, Cognition’s annual recurring revenue has more than doubled since May to over $900 million, driven largely by its Devin AI coding agent.
