AI startup Cognition Labs seeks $2B valuation amid investor frenzy

Artificial intelligence will undoubtedly change much of our world over time. But for now, we may be living in an AI bubble.

Those who want proof of this can cite the news of Cognition Labs which aims to calculate a $2 billion revenue, such as report and Wall Street Journal Wednesday.

Launched in November, Cognition Labs makes Devin, which it he explains like “the first independent AI software.” It doesn’t earn real money. They he started Devin this month.

Earlier this year, the startup raised $21 million in a deal valued at $350 million. Then it turned down a deal that made it $1 billion. Now, according to Journalis in talks with investors to agree a $2 billion deal.

This is a wonderful picture of a new business. But it’s not at all surprising in today’s AI environment. Surprisingly, the introduction of AI search is difficult Google, security deposit a few weeks ago it was worth $1 billion, up from $520 million a few months ago, and Amazon founder Jeff Bezos of the rear. Mistral, a French AI startup founded about a year ago, hit a The cost of $ 2 billion in December.

‘Every bubble has an inspiring story’

Each of these basics can justify their high valuation. But as more and more AIs emerge from bettors spreading their bets, the buzz increases among viewers.

Albert Edward, chief international strategist at Société Générale, is one of the sceptics.

“Every bubble has an inspiring story,” he said he wrote in a post this week. “Current issues are just waiting for the increase in corporate profits and AI to justify the current valuation. Those of us who were alive in the late 1990s [tech] We have already heard it and our eyes are looking to heaven.”

As for Devin, “a lot of companies are working to change this concept,” business writer David Sacks said recently. part cha All-In Podcast. Although he likes the “assistant-first” approach to developing new software, “where I think this becomes more difficult and more difficult is when you’re working in existing codes,” some AI challenges he’s dealing with.

One good thing about Devin, he added, is that he’s “done really well.”

Whether the good demos that invest today translate into successful companies years in the past remains to be seen. In any case, today’s brilliant calculations of uncertain origins can be recalled.

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