Cognition reports $2 billion Series E at $48 billion valuation

Cognition AI said it raised more than $2 billion in a Series E financing at a $48 billion valuation. SiliconANGLE reported that the company's prior May round raised more than $1 billion at a $26 billion valuation and that Cognition says its run-rate revenue is now close to $900 million, up from $492 million then. Cognition develops Devin, an AI agent intended to plan, write, test, debug and deploy software in a sandboxed environment. Andreessen Horowitz and Accel led the round, with Nvidia among participating investors.