Cognition AI, a US-based AI startup that builds coding software, is on pace to generate about US$1 billion in annualized revenue this month, according to a person familiar with the matter.

The figure would roughly double the company’s run rate from about four months earlier, driven by demand for its Devin AI coding software.

The company’s run-rate revenue topped US$900 million in September, up from US$492 million in May.

Earlier this month, the company said it raised US$2 billion at a US$48 billion valuation. That was up from US$26 billion roughly three months earlier.

Investor interest in AI coding firms picked up earlier this year after SpaceX announced it could acquire rival Cursor for US$60 billion. That deal closed in August.

SpaceX had previously approached Cognition about a potential acquisition.

🔗 Source: Bloomberg

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