Cognition 估值达 480 亿美元，投资者看好 AI 编程市场多元竞争
Cognition 高估值融资表明，资本认为 AI 编程赛道未定输赢，多家公司可共存并快速增长。
开发 AI 编程助手 Devin 的初创公司 Cognition 宣布融资 20 亿美元，估值达 480 亿美元，较四个月前翻近一番。其年化收入从 4.92 亿美元增至 9 亿美元，但高额算力租赁导致年烧钱或达 8 亿美元。此前 Cursor 以 600 亿美元售予 SpaceX，显示 AI 编程领域仍有多个赢家空间。
正文摘录
Cognition, the startup developing coding assistant Devin, [announced](https://cognition.com/blog/series-e) it raised $2 billion at a $48 billion valuation. The round, which comes just four months after Cognition’s previous fundraise at a [$26 billion valuation](https://techcrunch.com/2026/05/27/ai-coding-startup-cognition-raises-1b-at-25b-pre-money-valuation/), was led by Andreessen Horowitz, Accel, Founders Fund, General Catalyst, and Avenir. The startup’s soaring valuation signals that VCs still see room for multiple major players to capture meaningful market share in AI coding, one of the technology’s most significant applications. Cognition said that since announcing its last fundraise in May, its annualized run-rate revenue has grown from $492 million to $900 million. While the startu…