Cognition AI announced a financing round exceeding $1 billion, pushing its valuation to $26 billion. The Seattle‑based firm said revenue jumped from $37 million to $492 million in a year, and its AI coding agent Devin now writes more than 90% of the company’s internal software. Investors include Lux Capital, General Catalyst and 8VC, with participation from Ribbit Capital, Atreides Management and Founders Fund. Customers such as Goldman Sachs, Mercedes‑Benz, NASA and U.S. government agencies rely on Devin for end‑to‑end code generation, positioning Cognition at the forefront of the AI‑driven software market.
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