Report
Canada agrees to invest in Cohere as AI developer raises new financing
Techmeme, citing Bloomberg, reports Cohere has completed its round’s first close at a $20.5 billion valuation.
TLDR
BetaKit reports Prime Minister Mark Carney said Canada is investing $1.6 billion in Toronto-based AI developer Cohere, which is targeting a nearly $36 billion valuation. Techmeme, citing Bloomberg, reports Cohere has completed the first close of a round it expects to total up to $5 billion, with Canada agreeing to invest up to $1.14 billion at a $20.5 billion valuation.
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