tech
Cognition CEO denies report that SpaceX tried to acquire the startup
SpaceX was reportedly in talks to buy AI coding startup Cognition. SpaceX has already acquired Cursor as it races to catch up to rivals like OpenAI and Anthropic in enterprise AI.
TL;DR
- SpaceX reportedly attempted to acquire AI coding startup Cognition, according to Bloomberg.
- Cognition CEO Scott Wu denied the report, stating the company is not for sale and denies any talks with SpaceX.
- This follows SpaceX's recent $60 billion acquisition of AI coding startup Cursor.
- SpaceX aims to catch up to competitors like OpenAI, Anthropic, and Google in the AI race.
- SpaceX acquired Musk's AI company, xAI, earlier this year.
- Musk believes AI will constitute 99% of SpaceX's value in four to five years.
- AI-assisted coding is seen as a key way to monetize AI technology.
- Acquiring Cognition and its coding agent Devin would have bolstered SpaceX's AI coding push.
- Cognition recently raised $1 billion at a $25 billion valuation and is reportedly seeking new funding at a $40 billion valuation.
- Bloomberg reports that while deal talks are inactive, discussions about potential collaboration, such as Cognition using SpaceX's computing capacity, may still be ongoing.