Cohere Valued at $5.5 Billion After Major Funding Round

The AI startup focuses on practical enterprise applications, avoiding the pursuit of artificial general intelligence.

Cohere raised $500 million in a Series D funding round, bringing its total funding to $970 million.
The company is backed by major investors including Nvidia, Cisco, AMD, and Canada's EDC.
Cohere develops large language models aimed at improving business efficiencies across various industries.
The startup reported $35 million in annualized revenue as of March and plans to double its workforce.
Unlike rivals, Cohere prioritizes practical AI solutions over ambitious AGI projects.