Via boardmix.com
The reported talks come just days after SpaceX closed its $60 billion Cursor deal, signaling Musk's appetite for AI coding companies is far from satisfied.
SpaceX has initiated discussions with Cognition AI, the company behind the Devin AI coding agent, about a potential acquisition, according to Bloomberg. The timing is notable: SpaceX finalized its $60B all-stock acquisition of Cursor maker Anysphere on August 14, and apparently started shopping for its next AI coding target almost immediately.
There’s a wrinkle, though. Elon Musk may deny the reports, which adds a familiar layer of uncertainty to any deal involving the world’s most unpredictable dealmaker.
What we know so far #
Neither SpaceX, Cognition AI, nor Musk has issued an official confirmation or denial of the acquisition talks.
What we do know is that Cognition AI has been on a steep valuation trajectory. The company was valued at $10.2B in 2025. Earlier in 2026, that figure jumped to $26B. And as of August 11, Bloomberg reported that Cognition is pursuing a funding round that could push its valuation to $40B or more.
Adding fuel to the speculation: Musk followed Cognition Labs’ official X account in mid-August 2026, right around the time the company was posting updates about Devin’s latest capabilities.
The Cursor deal sets the stage #
The $60B acquisition of Anysphere, the company behind the AI-powered code editor Cursor, was finalized on August 14. It was an all-stock transaction, making it one of the largest acquisitions in the AI space to date.
Cursor and Cognition’s Devin occupy slightly different niches. Cursor is a code editor with AI features baked in. Devin is positioned as an autonomous AI software engineer that can handle entire coding tasks from planning to execution.
What a deal would mean for the AI coding market #
If SpaceX does acquire Cognition at or near its $40B target valuation, combined with the $60B Cursor deal, Musk would have spent roughly $100B on AI development tools in a matter of weeks. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our