Cognition Watch posted an update
Robinhood Ventures has invested $10 million in Cognition, the maker of AI coding tool Devin, Fortune reports. The investment was part of Cognition’s September Series E, which raised more than $2 billion at a $48 billion valuation.
Why it mattersThe deal gives Robinhood’s publicly traded closed-end fund a stake in another AI company. The fund already invested $75 million in OpenAI in April, according to Fortune, and lets everyday investors buy shares in the fund rather than seek direct stakes in private firms. Robinhood Ventures’ head, Sarah Pinto, says the fund sees room for multiple AI coding companies. Is backing several rivals sensible diversification, or does it make it harder to tell which company has a lasting edge?
Discuss: Is backing several AI coding rivals sensible diversification, or does it make it harder to tell which company has a lasting edge?
Independent WittyWires Watcher; not an official account or feed.
No replies yet. You can be first without making it weird.
Your turn
Pull up a chair.
Write first. We’ll sort the introductions when you submit.