AI coding startup Cognition hits $1 billion in annualized revenue

Cognition AI Inc. is on track to reach $1 billion in annualized revenue based on this month's performance, roughly doubling its run rate from about four months earlier. The company said in September its run-rate revenue topped $900 million, driven by demand for its Devin AI coding software.

• Cognition's annualized revenue reached $1 billion
• Run rate roughly doubled in four months
• Company reported $900 million in September
• Growth driven by Devin AI coding software