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Cognition raises $2 billion at $48 billion valuation as annualized run-rate revenue reaches $900 million
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Cognition raised $2 billion at a $48 billion valuation, reporting annualized run-rate revenue growth from $492 million to $900 million.
The valuation signals investor confidence in multiple winners within the AI coding market, contrasting with Cursor's acquisition by SpaceX due to compute constraints. Cognition leases an Nvidia server cluster costing hundreds of millions annually, risking similar compute shortages while attempting to train its own models to reduce reliance on OpenAI and Anthropic.
Written by elseif from the cluster below · every claim links back to a sourceThe three things worth knowing
Cognition raised $2 billion at a $48 billion valuation, up from a $26 billion valuation four months ago.
Annualized run-rate revenue grew from $492 million to $900 million, though the calculation method was not detailed.
Cognition is training its own model based on open-source alternatives to reduce reliance on third-party models from OpenAI and Anthropic.
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