Find XO: What Cognition's $1B Fundraising Proves: The Tipping Point of the AI Coding Agent Market (techcrunch.com)

- Cognition, the creator of Devin, raised over $1 billion at a post-money valuation of $26 billion. - Eight months ago at Series C, it was valued at $10.2 billion, so it has more than doubled. - ARR jumped from $37 million to $492 million in one year, and Devin reportedly writes 90% of the company's internal code. - The trend is shifting from auxiliary tools to agents that complete tasks, and the verification process convincing companies they can entrust work is the next battleground.