AI coding startup Cognition seeks $40 billion value as SpaceX buys rival Cursor for $60 billion

Cognition, a startup building AI tools that help programmers write code, was valued at $25 billion in May 2026 and is now in early talks for a round at $40 billion — a 60% jump in under three months. SpaceX closed a $60 billion stock deal last week to buy rival Cursor. Bloomberg reported SpaceX also tried to buy Cognition; CEO Scott Wu denied that on X, saying the company is not for sale.