Cognition’s AI Developer ‘Devin’ Eyes $10 Billion Valuation Amid Hype and Skepticism

Cognition, the AI coding startup behind the autonomous coder Devin, is nearing a $300 million funding round that WOULD catapult its valuation to $10 billion. The round includes participation from Founders Fund and Khosla Ventures, marking a rapid ascent for a company that was virtually unknown two years ago.

Devin gained viral attention with demos showcasing its ability to write, test, and debug code independently—a step beyond existing tools like GitHub Copilot. Yet critics argue the AI still stumbles in real-world applications, requiring human intervention to correct errors.

Investors continue to bet big on agentic AI despite unresolved questions about its capacity to replace human engineers. The HYPE cycle shows no signs of slowing, even as technical limitations persist.