Cognition CEO Scott Wu has denied a report that Elon Musk's SpaceX attempted to acquire the AI coding startup. Mr Wu posted on X that the story was inaccurate and that Cognition "is not for sale," further stating that the two companies have not been in talks.
The denial follows a Bloomberg report, published on Wednesday, which cited sources familiar with the matter. The report claimed SpaceX sought to acquire Cognition as it aims to compete with other AI firms.
This development comes shortly after SpaceX's $60 billion acquisition of Cursor, another AI coding startup, which closed last week. SpaceX had also acquired Mr Musk's AI company, xAI, earlier this year.
Bloomberg also reported that while acquisition talks are no longer active, SpaceX and Cognition are still discussing potential collaboration, possibly involving Cognition utilising SpaceX's computing capacity. Mr Wu did not address this specific claim in his denial.
Cognition, which raised $1 billion in late May at a $25 billion post-money valuation, is reportedly in early talks for a new funding round at a $40 billion valuation.