Cognition AI targets $1B raise at $47B valuation for Devin

Chinese outlet DoitNews reports that Cognition AI is seeking around $1 billion in new funding at a roughly $47 billion valuation, based on recent Bloomberg coverage. The round would nearly double the company’s valuation from about $26 billion three months ago, with annualized revenue said to have climbed from $492 million in May to over $900 million by late August.