AI startup Cohere in talks to raise funding at $6 billion plus valuation -sources

Cohere, an AI foundation model company that competes with Microsoft-backed OpenAI, is in talks to raise hundreds of millions of dollars in a funding round that could value the startup at more than $6 billion, sources told Reuters, in the latest sign of the investment frenzy around generative AI.

Cohere is planning on introducing a new dialogue model that would resemble ChatGPT to let enterprise users generate text and engage with the model to refine the output. Unlike ChatGPT, Cohere's technology will mainly be accessible to developers and businesses, CEO Aidan Gomez told Reuters in an interview.

Gomez said the company differentiates itself by focusing on serving enterprise users, and Cohere has been talking to companies from marketing, consulting and tech to help them incorporate generative AI.

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