Scott Wu
Co-founder and CEO of Cognition, the applied AI company behind Devin, an autonomous software engineering agent. He previously co-founded Lunchclub and is a three-time International Olympiad in Informatics gold medalist.
High-Bandwidth Memory Repricing Pushes SK Hynix and Micron Past $1 Trillion
SK Hynix and Micron’s rise past $1 trillion in combined market value was presented on Bloomberg Technology as a sign that investors are repricing high-bandwidth memory as a constraint on AI infrastructure. Bloomberg’s Ryan Vlastelica said the gains reflected growing appreciation that memory demand is feeding directly into revenue and share prices, while Ian King cautioned that memory has long been a volatile commodity business built around supply cycles. The broader argument was that the AI boom is exposing limits in hardware supply, export-control enforcement and power capacity, not simply lifting technology stocks.
Cognition Raises $1 Billion as Devin Revenue Run Rate Nears $500 Million
Cognition CEO Scott Wu told Bloomberg Technology that the AI coding startup’s new $1bn-plus financing, at a $26bn valuation, is backed by a revenue run rate nearing $500mn and rising enterprise use of its Devin system. Wu argued that Cognition’s opportunity lies in making software teams far more productive across large institutions, while its independence from any single AI lab lets Devin use whichever model is best suited to the work.