# Cognition raises funding talks at $40B valuation for Devin AI coding agent

> Cognition, maker of the Devin coding agent, is reportedly in early talks for a new funding round that would value it at $40B, up from the $26B valuation it secured only in May. That is a $14B leap in roughly three months, a pace that captures just how frenzied investor appetite for AI coding tools has become. Driving the number is fast-climbing revenue. The company is said to have hit a $1B annualized run rate, up from about $492M disclosed a quarter earlier, with enterprise adoption growing sharply among customers reported to include Mercedes-Benz, NASA, and Goldman Sachs. Two cautions are worth flagging. The round is described as early talks, not a closed deal, so the valuation could shift before anything is signed. And even at a $1B run rate, a $40B price tag bakes in enormous future growth, which makes Cognition a bellwether for whether the AI coding boom is durable or simply the current object of investor infatuation.

_Section: [AI Funding Tracker](https://www.wortins.com/funding) · Source: TechCrunch · Published Thursday, August 13, 2026_

## Wortins' read

Cognition, maker of the Devin coding agent, is reportedly in early talks for a new funding round that would value it at $40B, up from the $26B valuation it secured only in May. That is a $14B leap in roughly three months, a pace that captures just how frenzied investor appetite for AI coding tools has become. Driving the number is fast-climbing revenue. The company is said to have hit a $1B annualized run rate, up from about $492M disclosed a quarter earlier, with enterprise adoption growing sharply among customers reported to include Mercedes-Benz, NASA, and Goldman Sachs. Two cautions are worth flagging. The round is described as early talks, not a closed deal, so the valuation could shift before anything is signed. And even at a $1B run rate, a $40B price tag bakes in enormous future growth, which makes Cognition a bellwether for whether the AI coding boom is durable or simply the current object of investor infatuation.

## 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/)

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