Cognition AI

AI Coding Agents · Enterprise Software

Milestone

Cognition AI's Devin crosses $1B annualized revenue run rate

Run-rate figures multiply a single month's revenue by twelve, so this number reflects momentum, not cash already collected.

• Cognition said its annualized revenue run rate crossed $1 billion, with Bloomberg reporting the milestone was hit based on September performance.
• Cognition builds Devin, an autonomous AI agent for software engineering tasks now used by enterprise teams at GE Aerospace, Rivian, Rohlik and Exa.
• The run rate climbed from $492 million in May to over $900 million in September before reaching $1 billion, roughly doubling in about four months.
• Annualized run rate is one month's revenue multiplied by twelve, so it tracks a projection of momentum rather than audited annual revenue collected.
• Earlier in September, Cognition closed a Series E raising over $2 billion at a $48 billion valuation, up from $26 billion just three months earlier.
• SpaceX had previously approached Cognition about a buyout before instead closing a $60 billion acquisition of rival coding platform Cursor in August.
• The figure puts a large commercial number behind the bet that AI coding agents can take on real engineering work, though retention and recognized revenue will ultimately test whether the demand holds.