Cognition CEO denies SpaceX acquisition report
Original: Cognition CEO denies report that SpaceX tried to acquire the startup
Why This Matters
Cognition's independence and $40B valuation talks signal strong demand for enterprise AI coding platforms.
Cognition CEO Scott Wu denied a Bloomberg report on August 19, 2026, claiming SpaceX attempted to acquire the AI coding startup. Wu stated on X that Cognition 'is not for sale' and that no talks took place, days after SpaceX's $60B acquisition of Cursor closed.
Bloomberg reported on August 19, 2026 that SpaceX attempted to acquire Cognition, the AI coding startup known for its agent Devin, citing sources familiar with the matter. Cognition CEO Scott Wu quickly denied the report on X, stating the story was inaccurate and that the company 'is not for sale,' adding that the two companies had not been in talks.
The report surfaced days after SpaceX's $60 billion acquisition of Cursor, another AI coding startup, closed. SpaceX — which acquired Elon Musk's xAI earlier this year and went public in June with a peak market cap of nearly $2.3 trillion — has been aggressively expanding its AI business. Musk has told employees that AI could represent 99% of SpaceX's value within 'four or five years.'
Bloomberg noted that while acquisition talks are no longer active, the companies may still explore a computing partnership, with Cognition potentially using SpaceX's infrastructure. Wu did not address this claim in his denial.
Cognition, whose enterprise customers include Mercedes-Benz, Citi, and Goldman Sachs, raised $1 billion at a $25 billion valuation in late May 2026. Bloomberg separately reports the company is in early talks to raise a new round at a $40 billion valuation.