According to CoinMeta, and as reported by Bloomberg, the programming company Cognition plans to conduct a new round of financing with a valuation of at least $40 billion, with the amount of financing expected to exceed $1 billion. Cognition was valued at $26 billion at the end of May when it completed the financing, with an annualized revenue of $492 million at that time; currently, the company's annualized revenue has approached $1 billion.