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 striking: SpaceX finalized its $60 billion all-stock acquisition of Cursor maker Anysphere on August 14, and apparently began shopping for its next AI coding target almost immediately.

What Is Devin, and Why Does SpaceX Want It?

Devin is positioned as an autonomous AI software engineer that can handle entire coding tasks from planning to execution, unlike Cursor, which is a code editor with AI features built in. The two tools occupy slightly different niches in the AI development landscape. Devin represents a more autonomous approach to coding, while Cursor focuses on enhancing the editing experience itself. For SpaceX, acquiring both would create a comprehensive suite of AI development capabilities.

Cognition AI has been on a steep valuation trajectory. The company was valued at $10.2 billion in 2025, jumped to $26 billion earlier in 2026, and as of August 11, Bloomberg reported that Cognition is pursuing a funding round that could push its valuation to $40 billion or more. If SpaceX does acquire Cognition at or near its $40 billion target valuation, combined with the $60 billion Cursor deal, Musk would have spent roughly $100 billion on AI development tools in a matter of weeks.

Is This Deal Actually Happening?

There's a significant wrinkle: neither SpaceX, Cognition AI, nor Elon Musk has issued an official confirmation or denial of the acquisition talks. Musk may deny the reports, which adds a familiar layer of uncertainty to any deal involving the world's most unpredictable dealmaker. However, circumstantial evidence has fueled 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 reported talks come at a pivotal moment for Cognition AI. The company is actively raising capital and expanding Devin's capabilities. A potential SpaceX acquisition would represent one of the largest deals in the AI development tools space, signaling how seriously major tech companies are taking autonomous coding agents.

How SpaceX's AI Coding Strategy Is Taking Shape

• Cursor Acquisition: SpaceX closed its $60 billion all-stock acquisition of Anysphere, Cursor's maker, on August 14, 2026, establishing a foothold in AI-powered code editing.
• Devin Pursuit: SpaceX is now in discussions to acquire Cognition AI at a potential $40 billion valuation, which would add autonomous coding capabilities to its portfolio.
• Total Investment: If both deals close, SpaceX would have invested approximately $100 billion in AI development tools within a matter of weeks, reflecting Musk's aggressive strategy in the space.

The scale of these potential acquisitions underscores how valuable AI coding tools have become to major technology companies. SpaceX's interest in both Cursor and Devin suggests a vision of integrating multiple layers of AI assistance into the development workflow, from real-time code editing to fully autonomous task execution.

Cognition AI's valuation growth reflects broader investor confidence in autonomous coding agents. The company's trajectory from $10.2 billion to a potential $40 billion valuation in less than two years demonstrates how quickly the market values AI tools that can automate software engineering work.

The outcome of these discussions remains uncertain, particularly given Musk's history of making and walking away from major deals. However, the reported approach signals that SpaceX views AI-powered development tools as critical infrastructure for its future operations, whether in space technology, artificial intelligence research, or other ventures. The next few weeks will likely clarify whether these talks progress toward a formal acquisition or dissolve into speculation.