Cohere

Cohere, an artificial intelligence startup that develops foundation models to compete with ChatGPT creator OpenAI, is in advanced talks to raise $500 million at a valuation of about $5 billion, according to a person familiar with the matter.The Toronto-based company has seen its annualized revenue run rate grow to $22 million this month from $13 million in December as it launched new model Command-R, said the source, who requested anonymity to discuss confidential matters.Elevate Your Tech Prowess with High-Value Skill…

The Canadian commercial AI startup Cohere doesn’t get as much time in the spotlight as OpenAI and Anthropic, but it spent 2023 quietly establishing itself as an attractive API for enterprises. Part of the company’s 2023 success owes to its go-to-market approach. It allows enterprises to host a Cohere language model on their own servers or in a private or commercial cloud.Last July, Amazon Web Services started to distribute the Cohere models through its Bedrock AI platform. Cohere is also finding its way into enterprises…

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.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive…

OpenAI CEO Sam Altman and the U.S. House Speaker conferred on risks posed by artificial intelligence (AI) amid regulatory challenges; US and Chinese AI companies hold secret talks on AI safety concerns; Pipefy launches AI-driven HR automation with customisable chatbots; Google Cloud unveils generative AI tools to transform retail experiences- this and more in our daily roundup. Let us take a look.1. OpenAI CEO and U.S. House Speaker confer on AI risks amid regulatory challengesOpenAI CEO Sam Altman and U.S. House Speaker…

Microsoft CEO Satya Nadella just dropped a short video on X (formerly Twitter) where he highlighted the achievements of the company in the artificial intelligence division. In the ‘Pace of AI innovation in 2023' video, he provided a few examples where organizations used AI tools by the company to make a positive impact on the world. Microsoft launched Copilot earlier this year, powered by OpenAI's GPT technology, and used it to build its own AI products for enterprises. In the span of just a few months, Microsoft has…

Oracle is spending "billions" of dollars on chips from Nvidia as it expands a cloud computing service targeting a new wave of artificial intelligence (AI) companies, Oracle founder and Chairman Larry Ellison said on Wednesday.Oracle's cloud division is working to gain ground against larger rivals such as Amazon Web Services and Microsoft. To get an edge, Oracle has focused on building fast networks that can shuffle around the huge amount of data needed to create AI systems similar to ChatGPT.Oracle is also buying huge…

Cohere, an AI foundation model startup, has raised $270 million in a funding round from investors, which include technology giants such as Nvidia, Oracle and Salesforce Ventures. The Toronto-based AI startup competes with Microsoft-backed OpenAI and focuses on building AI models for enterprise customers.Led by former AI researchers at GoogleCohere is led by former top AI researchers at Google Brain, a deep learning artificial intelligence research team under the umbrella of Google AI, where they worked on large language…

When ChatGPT was launched in November 2022, people around the…

Microsoft-backed OpenAI is no longer the only game in town for software developers looking to capitalize on an expected $90 billion market for artificial intelligence.Motivated by a wariness of relying on a single company, a desire for models tailored to specific tasks and the chance to cut costs, more than a dozen startups and investors said they are embracing competitors to industry leader OpenAI, casting a shadow on expectations that Microsoft Corp and OpenAI will dominate the young field. The shift by some software…