Cognition eyes $40B valuation as SpaceX acquires rival Cursor for $60B

Cognition, an AI coding startup valued at $25 billion in May 2026, is in early talks for a round at $40 billion — a 60% jump in under three months. SpaceX closed a $60 billion stock deal to acquire rival Cursor last week. Bloomberg reported SpaceX also attempted to buy Cognition; CEO Scott Wu denied that on X, stating the company is not for sale.