Cognition AI raised $2 billion in a Series E funding round.
The investment values the AI software developer at $48 billion. This marks a sharp increase from its $26 billion valuation in May 2026.
The previous valuation followed a $1 billion funding round.
Andreessen Horowitz and Accel led the new investment. Nvidia and other existing backers also participated.
Annualized run-rate revenue grew to nearly $900 million. This figure stood at $492 million in May.
The company’s AI agent, Devin, automates software engineering tasks. Nvidia, GE Aerospace, and Mercedes-Benz currently use the technology.