Cohere raises $5 billion to build an alternative AI vision

AI-assisted source summary · not independently verified. Content standards

Canadian artificial intelligence company Cohere announced the completion of the first close of its Series E financing, targeting up to 7 billion Canadian dollars (about $5 billion), to build a frontier AI company outside the United States and China. The Canadian government agreed to invest up to $1.14 billion in Cohere, which plans to invest about $1.2 billion in computing infrastructure in Canada by 2030. Upon completion of the round, Cohere will be valued at $20.5 billion.