Bloomberg reports SpaceX approached $26 billion AI coding startup Cognition about acquisition
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SpaceX has approached artificial intelligence coding startup Cognition AI about a potential acquisition, people familiar with the matter said. Deal talks are not currently active, but the companies continue to discuss working together, including an arrangement in which Cognition would use SpaceX’s computing capacity. Cognition was valued at $26 billion in a May funding round.
Key Facts
- SpaceX recently completed a $60 billion acquisition of coding startup Cursor, central to tech's 'vibe coding' era.
- Cognition was valued at $26 billion in a May funding round and has been in early talks for new financing at a valuation of at least $40 billion.
- Founded in 2023, Cognition's flagship product is Devin, an AI agent designed to automate the programming process for engineers.
- Cognition has partnered with large firms including Mercedes-Benz Group AG and GE Aerospace, according to its website.
- Chief Executive Officer Scott Wu said in May that the $1 billion financing allows Cognition to remain independent.
Deal Discussions
SpaceX approached Cognition AI about a potential acquisition, people familiar with the matter said. The deal talks are not currently active. The companies continue to discuss working together, including an arrangement in which Cognition would use SpaceX's computing capacity. SpaceX and Cognition did not respond to requests for comment.
Cognition Profile
Cognition was valued at $26 billion in a May funding round. The company has been in early talks with investors for new financing at a valuation of at least $40 billion. Founded in 2023, Cognition's flagship product is Devin, an AI agent designed to automate the programming process for engineers. Cognition has partnered with large firms including Mercedes-Benz Group AG and GE Aerospace, according to its website. Chief Executive Officer Scott Wu told Bloomberg in May that Cognition's $1 billion financing allows it to stay independent.
SpaceX AI Push
SpaceX recently completed a $60 billion acquisition of Cursor, a coding startup central to tech's 'vibe coding' era. SpaceX's interest in Cognition was driven by its technology and business progress, some of the people said. Musk's AI venture, now known as SpaceXAI, has lagged competitors on selling to businesses. The firm has carried out a series of job cuts and restructurings. SpaceX has morphed into a rocket, satellite communications and computing conglomerate, supercharged by its initial public offering this summer.
3 sources
Bloomberg reports SpaceX approached $26 billion AI coding startup Cognition about acquisition
