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SpaceX's attempt to acquire Cognition AI Inc., valued at $26 billion in a May funding round, has stalled without a deal, according to people familiar with the matter.
The two companies are instead discussing a compute arrangement that would give Cognition access to SpaceX's computing capacity.
Cognition, founded in 2023, builds Devin, an AI agent that automates programming tasks for software engineers.
The startup has since opened early talks for fresh financing at a valuation of at least $40 billion, the people said. The higher price tag gave it less incentive to accept an offer.
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