AI Startup Seeks $2 Billion Valuation Despite No Revenue
• Cognition Labs, an AI startup founded in November, is seeking a $2B valuation despite having no revenue and launching its first product this month • The startup previously raised $21M at a $350M valuation, turned down $1B offers, and is now seeking up to $2B as investor frenzy continues • Other young AI startups like Perplexity and Mistral have also hit $1B+ valuations amid a wave of funding and lofty valuations • Some observers see signs of a bubble, noting similarities to the 1990s tech bubble and questioning if valuations match viability • Whether highly valued AI startups like Cognition Labs can translate demos and funding into long-term success remains to be seen