Artificial intelligence lab and software startup Cognition AI is weighing a new funding round of more than $1 billion that could push the company’s valuation above $40 billion, a 50% increase in less than three months.
Backers in the funding round are looking to secure a stake in the company, as its annualized revenue run rate nears $1 billion, sources familiar with the matter told Bloomberg.
Details surrounding the potential fundraise are subject to change, and the company could ultimately decide to pursue financing on other terms, sources added.
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