Cognition hits $48B valuation, signaling investors believe AI coding is far from a winner-take-all market
Cognition’s valuation multiple is higher than Cursor’s was before selling to SpaceX.
cursor
SpaceX to acquire Cursor for $60B in stock, days after blockbuster IPO
The deal is supposed to help SpaceX’s struggling AI division. The company told IPO investors it sees a $26 trillion addressable market in AI.
How SpaceX preempted a $2B fundraise with a $60B buyout offer
Cursor was on track to close a $2 billion funding round this week but chose to halt discussions after SpaceX offered a $10 billion “collaboration fee” and a path to a $60 billion acquisition.
Sources: Cursor in talks to raise $2B+ at $50B valuation as enterprise growth surges
Returning backers a16z and Thrive are expected to lead the round.
Cursor admits its new coding model was built on top of Moonshot AI’s Kimi
Building on top of a Chinese model feels particularly fraught right now.
