[AINews] Cognition raises $1B in $26B Series D

We last wrote about Cognition in September’s $10B Series C when Smol.ai also joined Cognition and AINews was eventually moved here to Latent Space. 8 months later, it is worth 2.5x more, and officially the largest remaining independent agent lab in AI, a thesis we mapped out last year. With official ARR disclosures (now projecting >$1B ARR by EOY) you can map out the growth, which looks oddly similar to the WTF Happened in 2025 charts (this isn’t a coincidence