Cognition AI, maker of the coding agent Devin, is closing a round of around $1 billion (with reported interest near $10 billion) at approximately a $47 billion valuation, up from $26 billion in May 2026. The company reports annualized revenue rising from $492 million in late May to over $900 million, a faster growth rate than its valuation multiple increase. For a financial institution, this is a fresh private-market data point on app-layer AI company momentum and on whether enterprise demand for AI coding tools is converting into recognized revenue rather than only bookings.
294 other tracked developments touching the same claims.