cognition

Fortune exclusive: Robinhood Ventures invested about $10 million in AI coding agent Cognition (Devin).

The investment was part of the Series E round in September, which raised over $2 billion at a valuation of about $48 billion. RVI was the first to publicly disclose its participation. Robinhood Ventures also invested about $75 million in OpenAI this April, effectively betting on AI coding on both sides.

The publicly traded Robinhood Ventures Fund I (RVI) posted a quarter-over-quarter NAV increase of about 17% for the quarter ended September 30, its biggest quarterly gain since inception. Everyday investors can also buy exposure to private AI companies like these on the secondary market.

#AI #Cognition #Robinhood $HOOD $RVI

📰 AI coding startup Cognition AI has raised another large round: $2 billion. After this new round, its valuation jumped directly to $48 billion.

Even more outrageous is that three months ago, its valuation was still $26 billion. To be honest, this isn’t just ordinary fundraising acceleration anymore—it’s capital re-pricing the AI programming space.

🔥 The lead investor list is also very strong, including Andreessen Horowitz, Accel, Founders Fund, General Catalyst, and Avenir. Several well-known institutions are placing bets together, showing that the market’s imagination for AI engineering agents is still being pushed higher.

Cognition’s core product is its AI engineering agent, Devin. The company says that annualized revenue has grown from $492 million in May of this year to nearly $900 million. Revenue growth and valuation increases happened at the same time—which is also an important reason investors are willing to push the price tag to $48 billion.

👀 But the problem is also pretty direct: as AI programming tools get valued higher and higher, whether they can keep growing revenue afterward may be more important than the funding itself. After all, $48 billion isn’t a small number—Devin will still need to keep proving it’s worth that price.

🤔 Do you think AI coding companies can continue to secure valuations at this level?

#AI #Cognition #Devin #Technology funding

3 billionaires in one photo

Ten HRT interns in 2015. A decade later, four of them had built companies worth more than $80 billion combined.

#Hyperliquid #ScaleAI #Cognition and #Decagon