❯ SpaceX Approached AI Coding Company Cognition, Founder Says It’s Not for Sale

NO RESPONSEAccording to Bloomberg, SpaceX expressed interest in acquiring AI coding company Cognition, but the latter did not respond to the outreach. Cognition CEO Scott Wu then publicly denied the report, saying it was inaccurate, that the two sides never held any negotiations, and that the company is “not for sale.” Bloomberg also said acquisition talks are currently inactive, but the two companies are still discussing cooperation, including giving Cognition access to SpaceX’s computing power.

PREVIOUS DEALThis would have been SpaceX’s second major AI acquisition in short order. Just last week, its acquisition of coding-tool company Cursor for $60 billion closed. A rocket company buying two code-writing companies in a row isn’t buying aerospace hardware—it’s buying the engineering capability to iterate its own software.

INDEPENDENT STANCEWu has never hidden his position against selling. When he raised $1 billion in May, he told Bloomberg the money “lets us remain independent and continue operating as an independent company.”

ACQUISITION PRICEThe coding space is now where buyers are most aggressive—and where founders have no shortage of choices. Cursor sold for $60 billion; Cognition won’t even negotiate. The same track has produced two opposite answers. The investors currently valuing coding tools are the ones who need to recalibrate: the premium they can capture depends on whether the other side still wants independence.

▪ SIGNALCoding-tool acquisition prices have risen high enough for a rocket company to buy twice in a row, and deciding whether to sell is becoming the most expensive option a founder carries.