OpenAI rival Cohere is in talks with investors to raise "hundreds of millions of dollars" at an over $6B valuation.

 

OpenAI rival Cohere is in talks with investors to raise "hundreds of millions of dollars" at an over $6B valuation. 

 The Canadian firm, established by former Google researchers, gives developers and organizations access to natural language processing (NLP models) that would resemble ChatGPT.  


  • The firm counts Index Ventures, Tiger Global, and Radical Ventures as its backers, who have helped Cohere raise nearly $170M to date. 
  • Cohere's AI model initially leveraged Alphabet's TPU computing power, later adding support for Amazon's SageMaker last month. 
    • Instead of seeking strategic investments with exclusive rights, the company intends to keep the platform on multiple cloud services.
  • One of the products in its portfolio is Hypewrite, which leverages AI to generate articles. 


  • Anthropic, another generative AI peer, was seeking $300M from investors at a $5B valuation last week.
  • OpenAI received a $10B commitment from Microsoft.

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