# Cognition AI reportedly in talks to raise at $40B valuation with Devin revenue nearing $1B

> Cognition, the startup behind the AI coding agent Devin, is reportedly already in talks to raise at a valuation north of $40 billion, according to reporting on August 12. The trigger is revenue: the company's annualized run rate reportedly approached $1 billion in August, roughly double the $492 million it was said to be at in May. If the round closes near that mark, it would represent more than 50 percent upside in about three months, on top of a $26 billion valuation set only in May. The talks are described as early and are not finalized, so the number could move. Still, the trajectory is a vivid illustration of how quickly money is chasing AI code generation, a category where agents now write, test, and ship software with limited human hand-holding. Whether these valuations reflect durable businesses or the froth of a compressed hype cycle is the open question, but Cognition's numbers, if accurate, suggest at least some of the demand is very real.

_Section: [Daily AI Updates](https://www.wortins.com/daily-ai) · Source: TechCrunch · Published Sunday, August 16, 2026_

## Wortins' read

Cognition, the startup behind the AI coding agent Devin, is reportedly already in talks to raise at a valuation north of $40 billion, according to reporting on August 12. The trigger is revenue: the company's annualized run rate reportedly approached $1 billion in August, roughly double the $492 million it was said to be at in May. If the round closes near that mark, it would represent more than 50 percent upside in about three months, on top of a $26 billion valuation set only in May. The talks are described as early and are not finalized, so the number could move. Still, the trajectory is a vivid illustration of how quickly money is chasing AI code generation, a category where agents now write, test, and ship software with limited human hand-holding. Whether these valuations reflect durable businesses or the froth of a compressed hype cycle is the open question, but Cognition's numbers, if accurate, suggest at least some of the demand is very real.

## Source

[Read the full story at TechCrunch](https://techcrunch.com/2026/08/12/ai-coding-startup-cognition-reportedly-already-in-talks-to-raise-at-40b-valuation)

## Related coverage

- [Emerald AI Raises $150 Million Series A at $1.05 Billion Valuation](https://www.wortins.com/story/emerald-ai-raises-150-million-series-a-at-1-05-billion-valua-2071899e) — [Business Wire](https://www.businesswire.com/news/home/20260825127649/en/Emerald-AI-Raises-$150-Million-Series-A-at-$1.05-Billion-Valuation-to-Scale-Power-Flexible-AI-Data-Centers)
- [Agents Over Bubbles](https://www.wortins.com/story/agents-over-bubbles-3e7bd726) — [Stratechery](https://stratechery.com/2026/agents-over-bubbles/)
- [Anthropic Adds Claude Mythos 5 to Claude Security for Vulnerability Scanning](https://www.wortins.com/story/anthropic-adds-claude-mythos-5-to-claude-security-for-vulner-34ff7302) — [Anthropic](https://claude.com/blog/bringing-claude-mythos-5-to-more-defenders)
- [OpenAI Expands Daybreak With GPT-5.6-Cyber Cybersecurity Model](https://www.wortins.com/story/openai-expands-daybreak-with-gpt-5-6-cyber-cybersecurity-mod-9f70603c) — [TechCrunch](https://techcrunch.com/2026/08/10/as-ai-led-attacks-multiply-openai-launches-a-new-cyber-model/)
- [Fundraisly](https://www.wortins.com/story/fundraisly-75fbe87d) — [Futurepedia](https://futurepedia.io/)
- [80% of Organizations Report Measurable ROI from AI Agents in Production](https://www.wortins.com/story/80-of-organizations-report-measurable-roi-from-ai-agents-in--0f1c628d) — [Anthropic](https://resources.anthropic.com/2026-state-of-ai-agents)

---

_Curated and written by [Wortins](https://www.wortins.com) — The daily AI briefing. Every story links to its original source; the "Wortins read" on each is our own original analysis. [About Wortins & our editorial approach](https://www.wortins.com/about)._