AI startup Cognition raises $2 billion at $48 billion valuation

AI coding startup Cognition AI has raised $2 billion in its Series E funding round, taking its valuation to $48 billion. The company's run-rate revenue has nearly doubled since its previous funding round in May, rising from $492 million to almost $900 million. Cognition expects to reach annualised revenue of $4-5 billion by the end of 2026.