Acquisition Talks
SpaceX approached artificial‑intelligence coding startup Cognition AI Inc. about a potential acquisition, according to Bloomberg and reported by Reuters on 20 August 2026. The discussions have since ceased, but both parties remain in dialogue about possible collaboration, including an arrangement for Cognition to utilise SpaceX’s computing infrastructure.
Company Valuations and Funding
Cognition was valued at $26 billion during a May 2024 funding round. The startup has entered early discussions with investors for new financing at a valuation of at least $40 billion, as previously reported by Bloomberg News.
Responses from Key Individuals
Cognition co‑founder Scott Wu posted on social media that the takeover report was “not true” and asserted that “Cognition is not for sale.” SpaceX founder Elon Musk replied, confirming Wu’s statement and clarifying that SpaceX had only engaged with Cognition regarding its AI model Grok.
Cognition’s Business Profile
Founded in 2023, Cognition’s flagship product is an AI agent named Devin, which automates the programming process for engineers. The company’s focus is on AI‑driven code automation.
SpaceX’s AI Strategy
SpaceX’s AI venture, now branded SpaceXAI, has lagged behind competitors in business sales and has undergone multiple rounds of job cuts and organisational changes. AI growth remains a central component of Elon Musk’s broader strategy for SpaceX, which has expanded from a rocket manufacturer into a conglomerate that includes satellite communications and computing operations, a transition accelerated by its initial public offering in the summer of 2026.
Additional Context
The article, authored by Vlad Schepkov with reporting contributions from Ambar Warrick, also lists tokenised stock tickers for SpaceX (e.g., SPCX‑2.57%, Pre‑IPO stock on Republic), though these details are peripheral to the acquisition narrative.