Cognition (devin and Windsurf) Raises $400m at a $10.2b Valuation

If I were to guess what was going on it has little to do with cognition as a company and more to do with it as a vessel. Too much capital raised without adequate venues to use the capital, low confidence in USD. In that sense parking the money in a startup that is being propped up by other capital is probably safer in an unstable future. If Cognition fails it's likely that the economy in general fails so that capital would have become worthless anyway.

This also probably serves to excite the market more potentially creating more opportunities in other areas. Also, this probably will make Cognition into some Katamari ball accumulating more startups.