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NoneCanadian startup Cohere is reportedly in advanced talks to raise $500 million, a funding round that would value the company at $5 billion. Cohere, known for its foundation models that compete with OpenAI's ChatGPT, has seen its annual revenue increase to $22 million this month from $13 million in December, driven by the launch of its new model Command-R. The company, which was valued at $2. 2 billion in 2023, has focused on developing enterprise AI models and has partnerships with Oracle and other major cloud providers.
Cohere was founded by former Google researchers, including CEO Aidan Gomez, who co-authored a groundbreaking paper on AI research. In a letter to staff, Gomez criticized the effective altruism movement for being dogmatic and self-aggrandizing.
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