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AI startup Cohere valued at $6.8 billion in latest fundraise, appoints new executives - The Economic Times

Economic Times

Economic Times · 1m ago

AI startup Cohere valued at $6.8 billion in latest fundraise, appoints new executives - The Economic Times

Cohere, an AI startup, achieved a $6.8 billion valuation following its latest $500 million funding round led by Radical Ventures and Inovia Capital, with contributions from AMD Ventures, NVIDIA, and others. Unlike many AI firms, Cohere focuses on enterprise-specific models. The funds will aid in developing efficient AI for businesses and governments. Additionally, Joelle Pineau from Meta and Francois Chadwick from Uber have joined as Chief AI Officer and Chief Financial Officer, respectively.

Related News

AI startup Cohere in talks to raise roughly $500 million to $1 billion

Economic Times

Economic Times · 1y ago

AI startup Cohere in talks to raise roughly $500 million to $1 billion

Toronto-based startup Cohere is reportedly in talks with investors to raise $500 million to $1 billion, following the success of AI software application ChatGPT. The fundraising effort aims to develop AI, recruit talent, and expand sales activities. Cohere, valued at $2.2 billion after raising $270 million in June 2023, focuses on business applications of AI, helping professionals streamline tasks. The startup competes with OpenAI and Anthropic. The new funds will support Cohere's growth and technology development. Executives at Davos expressed interest in understanding how to monetize AI. Cohere's CEO, Aidan Gomez, has not commented on the matter.

Cohere Secures $500M and a Star Hire: Joelle Pineau From Meta Joins…

StartupTalky

StartupTalky · 1m ago

Cohere Secures $500M and a Star Hire: Joelle Pineau From Meta Joins…

Cohere, an AI company, secured $500 million in funding and appointed Joelle Pineau, former VP of AI Research at Meta, as Chief AI Officer, enhancing its research capabilities. The company's valuation now stands at $6.8 billion. Cohere focuses on business clients rather than the general public and aims to strengthen its AI capabilities. Pineau, known for her work in AI research, will lead Cohere Labs and contribute to its growth and development, emphasizing responsible AI.

Anthropic nears $61 billion valuation in new funding round: Report

Inshorts · 7m ago

Anthropic nears $61 billion valuation in new funding round: Report

AI startup Anthropic is seeking to raise $3.5 billion in a funding round at a $61.5 billion valuation, Reuters reported. Venture firms including Lightspeed Venture Partners, General Catalyst and Bessemer Venture Partners could participate in the round. Founded by former OpenAI employees, the startup was valued at around $18 billion in a fundraise last year.

AI startup Cohere seeks $5 billion valuation in latest fundraising

Economic Times

Economic Times · 1y ago

AI startup Cohere seeks $5 billion valuation in latest fundraising

Cohere, a Toronto-based AI startup, is in talks to raise $500 million at a valuation of $5 billion. The company's annualized revenue run rate has grown from $13 million in December to $22 million this month with the launch of its new model, Command-R. Cohere focuses on developing enterprise-focused AI models and plans to make them available on major cloud providers. If successful, this funding round would be another example of investors' eagerness to support high-valued AI startups despite moderate revenue numbers. The competition among foundation model companies for capital has intensified as they require significant resources for development.

Cisco launches $1 billion AI fund and makes first investments

Economic Times

Economic Times · 1y ago

Cisco launches $1 billion AI fund and makes first investments

Cisco has launched a $1 billion fund to invest in artificial intelligence (AI) startups. The company has already committed nearly $200 million to invest in companies such as Cohere, Mistral AI, and Scale AI. Scale AI is valued at nearly $14 billion, while Cohere and Mistral are reportedly in talks to raise funds at a valuation of $5 billion each. Cisco's move follows other tech giants, including Microsoft-backed OpenAI, Meta, and Amazon, who have also invested in AI startups. Cisco has been actively investing in AI with over 20 acquisitions and investments in recent years.

Apple internally discussed buying Mistral, Perplexity: Report - The Economic Times

Economic Times

Economic Times · 1m ago

Apple internally discussed buying Mistral, Perplexity: Report - The Economic Times

Apple is reportedly considering acquiring French AI startup Mistral and Perplexity, signaling a shift from its conservative M&A strategy. CEO Tim Cook expressed openness to larger AI-related acquisitions to accelerate Apple's innovation roadmap. Historically trailing Google and Samsung in AI features, Apple aims to enhance its competitive edge. While the report remains unverified, Mistral, valued over $6 billion, is in ongoing talks about a $10 billion valuation. Apple, Mistral, and Perplexity have not commented.

ASML becomes Mistral AI's top shareholder after leading latest funding round - The Economic Times

Economic Times

Economic Times · 19d ago

ASML becomes Mistral AI's top shareholder after leading latest funding round - The Economic Times

ASML is set to become the largest shareholder in French AI startup Mistral AI by investing €1.3 billion in its €1.7 billion fundraising round. This strategic move aims to enhance European tech independence, with Mistral being valued at €10 billion. The collaboration seeks to strengthen Europe's position against US tech giants like OpenAI and Google. ASML's investment could help leverage Mistral's AI capabilities to boost its own chipmaking efficiency.

Anthropic draws investor interest at more than $100 billion valuation - The Economic Times

Economic Times

Economic Times · 2m ago

Anthropic draws investor interest at more than $100 billion valuation - The Economic Times

OpenAI competitor Anthropic is reportedly looking to secure another investment round valued at over $100 billion, significantly higher than its previous $61.5 billion valuation. Despite not formally fundraising, the AI startup, founded by Daniela and Dario Amodei, is attracting investor interest for its chatbot, Claude, as its annualized revenue rose from $3 billion to $4 billion. Investors like Amazon and Alphabet have backed Anthropic, which continues to experience strong growth in the Silicon Valley AI ecosystem.

Toronto-based AI Startup Cohere Raises $500 Million in Series D Funding at $5.5 Billion Valuation

deepnewz

deepnewz · 1y ago

Toronto-based AI Startup Cohere Raises $500 Million in Series D Funding at $5.5 Billion Valuation

Toronto-based AI startup, Cohere, has raised $500 million in a Series D funding round led by Canadian pension fund PSP, giving them a valuation of $5.5 billion. Cohere is known for their large language models and plans to use the funding to further develop their technology and support enterprise adoption. The company is now one of the most valuable AI startups globally and a key player in the Canadian tech industry. Notable backers include Cisco and AMD, and the funds will also aid Cohere in competing with other generative AI competitors.

New AI-first marketing platform HCL Unica+ targets $94 billion martech opportunity - The Economic Times

Economic Times

Economic Times · 10d ago

New AI-first marketing platform HCL Unica+ targets $94 billion martech opportunity - The Economic Times

HCLTech's software division launched HCL Unica+, an AI-driven marketing platform capable of managing 500 million customer accounts and 1.4 billion touchpoints. This platform aims to offer data-driven, hyper-personalized marketing, reflecting India's martech industry's projected growth to $94 billion by 2030. Following partnerships with OpenAI and AMD, HCLTech's strategic focus includes adopting generative AI. Meanwhile, HCLTech reported a 6.8% quarterly growth in net profit, despite sluggish demand impacting its revenues.

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