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Cognition AI Hits $4 Billion Valuation in Deal Led by Lonsdale's Firm [Yahoo! Finance]
Last microsoft corporation earnings: 4/29 04:06 pm
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Most Read from Bloomberg ICE Eyes Massive California Tent Facility Amid Space Constraints How Britain's Most Bike-Friendly New Town Got Built The Dark Prophet of Car-Clogged Cities Washington, DC, Region Braces for ‘Devastating' Cuts from Congress NYC Plans for Flood Protection Without Federal Funds The new funding round is being led by 8VC, the Joe Lonsdale-backed venture capital firm, said the people, who asked not to be identified discussing private information. 8VC declined to comment. A representative for Cognition didn't immediately respond to a request for comment. The round doubles the previous valuation of the startup, which released its generative AI coding tool a year ago. Cognition bills the tool, called Devin, as “the world's first AI software engineer.” The new funding round is an indication that investor demand for AI deals is still booming as venture capitalists race to fund promising applications for the technology. Cognition was valued at $2 bill
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