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Canadian AI startup Cohere hits $7b valuation
Cohere, a Toronto-based enterprise AI model developer, has raised an additional US$100 million, bringing its valuation to US$7 billion in an extension of its earlier US$500 million round from August.
The new funding round includes investors such as Business Development Bank of Canada and Nexxus Capital Management.
Cohere also announced a partnership with AMD, which will see its Command-family AI models running on AMD’s Instinct GPUs.
AMD is an investor in Cohere, and will also use the company’s technology internally.
Cohere will continue to support Nvidia GPUs alongside AMD’s hardware.
Founded in 2019, Cohere focuses on enterprise AI and was co-founded by Aidan Gomez, one of the authors of the “transformer” research paper.
🔗 Source: TechCrunch
