Cognition CEO denies SpaceX acquisition talks
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- SpaceX attempted to acquire AI coding startup Cognition as it works to catch up to OpenAI, Anthropic, and Google in the AI race, per Bloomberg sources
- Cognition CEO Scott Wu disputed the Bloomberg report on X, calling it "inaccurate" and saying the company "is not for sale" and the two firms haven't been in talks
- The acquisition approach came days after SpaceX closed its $60 billion acquisition of Cursor, another AI coding startup
- Cognition's coding agent Devin serves enterprise customers including Mercedes-Benz, Citi, and Goldman Sachs, which Bloomberg cited as a draw for SpaceX
- Cognition raised $1 billion at a $25 billion post-money valuation in late May and is now in early talks for a new round at a $40 billion valuation
- Wu did not address Bloomberg's separate claim that SpaceX and Cognition are still discussing Cognition using SpaceX's computing capacity
Why it matters: SpaceX's aggressive consolidation of AI coding startups — closing Cursor for $60 billion and now pursuing Cognition — shows how Musk is trying to monetize AI as he told employees it will become "99% of the value" of SpaceX in four to five years. Cognition's $40 billion funding talks signal founder confidence in staying independent, though Bloomberg reports the companies may still strike a compute deal.
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