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Welcome to today’s edition of AI Business Weekly. Global AI momentum shows no signs of slowing, with major financings pushing valuations into double-digit billions, strategic acquisitions reshaping industries, and AI-driven startups raising fresh rounds across verticals from insurance to chemistry. Let’s dive in.

Cognition AI Closes $400M, Valuation Surges to $10.2B

Cognition AI, the company behind the AI coding agent Devin, has secured $400 million in funding, tripling its valuation to $10.2 billion from $4 billion earlier this year. The round was led by Founders Fund, with participation from Lux Capital, 8VC, Elad Gil, Definition Capital, and Swish Ventures.

Devin has quickly become a benchmark in AI-assisted coding, driving strong customer adoption and revenue momentum. The financing positions Cognition AI as one of the leading players in applied AI for developers.
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Mercor Nears $10B Valuation in Series C Talks

Mercor, an AI startup connecting enterprises with niche domain experts to enhance foundational AI models, is reportedly in advanced talks for a Series C funding round. Sources confirm investor discussions and distribution of external marketing materials.

If finalized, the round would place Mercor’s valuation close to $10 billion, further cementing its role as a specialized talent and training partner for large-scale AI initiatives.
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CuspAI Raises $100M to Advance AI in Chemistry

CuspAI, a startup building AI models for chemistry, has raised $100 million in Series A funding. The round was co-led by New Enterprise Associates and Temasek, with participation from NVentures (Nvidia), Samsung Ventures, Hyundai Motor Group, and other prominent backers.

The company’s scientific advisory board includes leading AI researchers, positioning CuspAI to accelerate breakthroughs in material science and drug discovery through domain-specific AI applications.
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Pathwork Secures $3.5M to Modernize Insurance Distribution

Pathwork, an AI-powered insurtech startup, has raised $3.5 million in Seed funding to transform life and health insurance distribution. Costanoa led the round, joined by Logos Fund, American Family Ventures, Meridian Ventures, and several industry angels.

Pathwork’s autonomous distribution platform aims to streamline insurance workflows, enabling carriers and agents to operate with greater speed, efficiency, and personalization.
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Magnite Acquires Streamr.ai to Expand CTV Access

Magnite, the largest independent sell-side advertising company, has acquired Streamr.ai, a connected TV (CTV) platform focused on small and medium-sized businesses. The deal, announced September 9, 2025, underscores Magnite’s strategy to democratize access to CTV advertising.

Financial terms were not disclosed. Streamr.ai’s technology simplifies campaign management and measurement, enabling SMBs to enter the rapidly growing CTV market.
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📢 AI Funding & Market Momentum

From Cognition AI’s multi-billion surge and Mercor’s potential $10B valuation, to CuspAI’s breakthrough chemistry applications, Pathwork’s insurtech innovation, and Magnite’s CTV expansion, today’s developments highlight the breadth of AI’s impact across industries. Capital and strategic moves continue to accelerate the pace of AI adoption worldwide.

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