Cognition’s AI Developer ‘Devin’ Eyes $10 Billion Valuation—Even If It’s Not Mindblowing Yet
Main Idea
The startup behind the AI coding assistant Devin is negotiating a funding round exceeding $300 million, which would value the company at $10 billion, reflecting broader investor enthusiasm for AI technologies.
Key Points
1. Devin, an AI coding assistant, can autonomously debug code and interact with development tools like a human engineer, achieving a 13.86% success rate on the SWE-Bench benchmark.
2. Goldman Sachs is piloting Devin, with its tech chief noting the AI's potential varies by use case.
3. AI startups raised $104.3 billion in the first half of 2025, nearly matching the $104.4 billion raised in all of 2024, highlighting intense investor interest.
4. Microsoft and Alphabet report that AI generates about 30% of the code in some projects, showcasing its growing role in software development.
5. Cognition, Devin's developer, is hiring top competitive programmers, but it remains uncertain if their skills can justify a $10 billion valuation.
Description
Cognition is seeking to achieve a jaw-dropping $10B valuation as investors race to back the next big thing. Can its “autonomous coder” be it?
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