Cognition CEO Denies SpaceX Acquisition Talks as AI Coding Startup Eyes $40B Valuation
TechCrunch · United States · Aug 19, 2026
SpaceX reportedly attempted to acquire AI coding startup Cognition, maker of enterprise coding agent Devin, but CEO Scott Wu publicly denied the report and stated the company is not for sale. The denial follows SpaceX's confirmed $60 billion acquisition of Cursor, another AI coding platform, signaling aggressive consolidation in the AI coding space. Cognition, which counts Mercedes-Benz, Citi, and Goldman Sachs among its enterprise customers, raised $1 billion in May at a $25 billion valuation and is now reportedly in early talks for a new round at $40 billion. The episode underscores rapid M&A activity among AI coding startups, a trend with direct implications for enterprise tech staffing and demand for AI-adjacent talent.
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