Cognition AI raises $2 billion at $48 billion valuation
FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
Sept 8 : AI coding startup Cognition AI said on Tuesday it had raised $2 billion in a Series E funding round at a valuation of $48 billion.
Here are some details:
• The round was led by new investors Andreessen Horowitz and Accel, alongside existing backers Founders Fund, General Catalyst, and Avenir.
• Cognition’s run-rate revenue has grown from $492 million to nearly $900 million since its last round in May, the firm said in a blog.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
• The latest round nearly doubles Cognition’s valuation from $26 billion in May, when it raised $1 billion.
• Interest in AI-focused companies has surged significantly, as investors drawn by the lure of a technological revolution pour billions into the ecosystem.
• Cognition is an AI startup that develops autonomous software-engineering agents, which can plan, write, test and deploy code with limited human intervention.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
