The developer of the renowned AI coding assistant Devin, Cognition, has recently attracted significant attention in the capital market. According to insiders, the company is currently in negotiations for a new round of funding, and its overall valuation is expected to jump significantly, reaching at least $40 billion.

Previously, Cognition completed a $1 billion funding round in May of this year, with a valuation of approximately $2.6 billion at that time. According to reports, the substantial valuation increase in this new round of funding is mainly due to the company's annualized revenue run rate of $1 billion.

In terms of business growth, Wu Guoyun, founder and CEO of Cognition, previously told the media that enterprise customers' usage of Devin has maintained a strong monthly growth rate of 50% over the past six months. Currently, its client base includes global enterprises such as Mercedes-Benz, NASA, and Goldman Sachs.

Regarding the product's market positioning, Wu Guoyun emphasized that Devin is not intended to replace human programmers, but rather focuses on taking on the tedious long-tail tasks that programmers usually dislike. For example, modernizing outdated software systems or smoothly migrating applications from one platform to another. This function design that addresses real pain points has become the key to its rapid popularity in the enterprise market.