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AI & Enterprise

AI coding startup Cognition raises more than $2 billion, valued at $48 billion

AI coding agent startup Cognition has raised more than $2 billion in a Series E funding round that values the company at $48 billion. SiliconANGLE reported the valuation nearly doubled from the previous round, with annualised revenue close to $900 million. Cognition raised $1 billion in May at a $26 billion valuation. The company develops an AI agent that handles the full software engineering process.

AI & Enterprise

Value-for-money AI models reshape spending, frontier model sales wobble

Lower-cost AI models are increasingly influencing corporate spending on high-end offerings from Anthropic and OpenAI, a Financial Times report said, citing Ramp’s analysis of spending data from 70,000 companies. Anthropic’s top-tier Fable 5 accounted for about 11 percent of spending on Anthropic tools more than two months after launch. Analysts cited price and sufficient performance of older models. The shift may affect frontier AI developers investing billions of dollars in larger models.

AI & Enterprise

Cyera to buy Oasis Security for $1 billion to expand AI agent security

Data security firm Cyera has signed a letter of intent to acquire Oasis Security in a deal worth about $1 billion. Cyera plans to integrate Oasis Security’s technology into its unified identity and data security platform after the acquisition. Oasis Security has focused on non-human identity security, mainly for AI agents. As AI agents increase, companies are adopting cyber security software to monitor them and manage access to other software.