AI startup Cohere in talks to raise roughly $500mln to $1bln – source

Cohere, a Toronto-based startup developing artificial intelligence for businesses, is in discussions with investors to raise capital in the ballpark of $500 million to $1 billion, a person with knowledge of the matter told Reuters Friday. The fundraising effort follows frenzied investment ignited by AI software application ChatGPT that saw AI startups garner a third of venture dollars in the United States last year. Cohere is competing with ChatGPT's creator OpenAI and startup Anthropic while focusing on business applications of AI, for instance making professionals more efficient at their jobs.