Canadian AI startup Cohere raised $450 million from investors like Nvidia and Salesforce, aiming for more at $5 billion valuation in the same round, highlighting growth.
Cohere's generative AI business has shown significant revenue increase, reaching $35 million annually, focusing on selling models and applications with data privacy emphasis.
Cohere competes with OpenAI, Anthropic, and Mistral, seeking to raise $500 million to $1 billion while benefiting from Canadian government's AI investment plan of C$2.4 billion.
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