Cognition AI Reaches $10 Billion Valuation With New Funding (1)

Artificial intelligence startup Cognition AI Inc. has reached a valuation of $10.2 billion in a roughly $400 million funding round — a deal that highlights the continued investor frenzy around AI-powered software development.

The latest round was led by Founders Fund, the venture capital firm backed by Peter Thiel, and included existing investors such as Lux Capital, Joe Lonsdale’s 8VC, Elad Gil, Definition Capital and Swish Ventures, the company said Monday.

The deal marks a big jump in valuation for Cognition, which raised money earlier this year at a valuation of $4 billion. ...