AI startup Cohere sees valuation soar to $5.5B after new funding round - report

seekingalpha07-22

Canadian AI startup Cohere is now one of the world's most valuable AI companies following a new funding round, which valued the company at $5.5B, Bloomberg News reported. The company has raised $500M ...

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The company has raised $500M ...</p>\n\n<a href=\"https://seekingalpha.com/news/4126270-ai-startup-cohere-sees-valuation-soar-to-55b-after-new-funding-round\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AI startup Cohere sees valuation soar to $5.5B after new funding round - report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAI startup Cohere sees valuation soar to $5.5B after new funding round - report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-22 22:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4126270-ai-startup-cohere-sees-valuation-soar-to-55b-after-new-funding-round><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Canadian AI startup Cohere is now one of the world's most valuable AI companies following a new funding round, which valued the company at $5.5B, Bloomberg News reported. The company has raised $500M ...</p>\n\n<a href=\"https://seekingalpha.com/news/4126270-ai-startup-cohere-sees-valuation-soar-to-55b-after-new-funding-round\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1496350502.SGD","symbol_name":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","start_time":0,"source_url":"https://seekingalpha.com/news/4126270-ai-startup-cohere-sees-valuation-soar-to-55b-after-new-funding-round","article_id":"2453795018","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1628553826/image_1628553826.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2453795018","pubTimestamp":1721657352,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Canadian AI startup Cohere is now one of the world's most valuable AI companies following a new funding round, which valued the company at $5.5B, Bloomberg News reported. 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The company has raised $500M in a Series D funding. The investment was led by Canadian pension investment manager PSP Investments, and a syndicate of additional new investors including backers at Cisco Systems (CSCO), Japan's Fujitsu (OTCPK:FJTSF) (OTCPK:FJTSY), Advanced Micro Devices' (AMD) AMD Ventures and Canada's export credit agency EDC, the report added. Cohere builds large language models, or LLMs, and customizes them for businesses. Last month, it was reported that Nvidia (NVDA) and Salesforce (CRM) were part of a new funding round which valued the company at $5B, up from a reported $2.2B in June 2023. The new investment round brings Cohere total cash reserve to about $970M, according to the report. Cohere's product has seen interest from hundreds of customers such as Notion Labs and Oracle (ORCL), which is also an investor. Oracle uses Cohere's technology to help perform tasks like writing website copy, communicating with users and add generative AI to their own products. The start-up has customers across sectors, including banks, tech companies and retailers. Cohere competes with bigger rivals such as Microsoft (MSFT)-backed OpenAI, Anthropic, Mistral and Alphabet's (GOOG) (GOOGL) Google. Microsoft has a collaboration with France's Mistral, while Anthropic has seen funding from Amazon (AMZN), Google and Salesforce. In spring, Cohere unveiled its new model called Command R+, its most powerful LLM so far. The company said it is intended to compete against competitors such as OpenAI, while costing less, the report noted.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2453795018"}