Cognitive Research Institute The company is reportedly aiming to become the next multi-billion dollar artificial intelligence (AI) startup.
The company, which develops AI tools for writing code, is in talks with investors to raise funding at a valuation of $500. up to $2 billionThe Wall Street Journal (WSJ) reported on Sunday (March 31).
If the round is successful, Cognition’s valuation would rise nearly six times what it was a few weeks ago, according to the report. Sources told the news outlet that Silicon Valley venture firms, including Founders Fund, which is already a shareholder, are in talks to invest in the round.
According to WSJ, Cognition started as a cryptocurrency company, but shifted its focus to AI as the technology became more popular. Earlier this month, the company debuted its AI coding tool Devin, which can reportedly autonomously complete complex coding tasks such as creating custom websites.
WSJ added that some investors believe Devin represents a major leap forward in AI intelligence, with the potential for widespread automation of software development.
The round comes as many other AI companies are seeking significant valuation increases.For example, this month, Canadian AI startups close contact is in advanced talks to raise $500 million. Valuation at $5 billion. The company raised $220 million in June last year, giving it a valuation of $2.2 billion.
and French AI model developer Mistral rated in 2 billion at the end of last yearThe valuation has jumped approximately 7 times compared to the previous year.
At the same time, as PYMNTS wrote last week, the tech giants aren’t “sitting idly”; here are some companies that are: Google, microsoft and meta We are actively building our own AI large-scale language models (LLMs).
The report notes that while large technology companies have an advantage, the race for AI supremacy is not limited to the largest companies in their fields, but they are not alone in advancing the frontier of AI. often require large investments in computational power and research personnel.
” architectural hurdles Broad base models mean that they are very expensive to train on increasingly large datasets. ” Gil LuriaSenior Software Analyst DA Davidson & Co.said in an interview with PYMNTS.
“The only reason OpenAI You can afford to do so by Microsoft support and Azure resources that you make available to OpenAI. Extensive models like those leveraged by ChatGPT incorporate vast amounts of human knowledge and continue to be trained with new content, making them versatile in many disciplines. ”
