Artificial intelligence start-up Cohere is seeking to raise more than $500mn in new funding, aiming to catch up in the hugely expensive race to build cutting-edge AI models alongside rivals such as OpenAI, Google and Anthropic.
The Canadian start-up is targeting a valuation of above $5.5bn, according to two people with knowledge of the discussions, broadly similar to the price tag it received from its previous funding round last year.
Another person with direct knowledge of the discussions said the figure could reach between $6bn and $6.5bn, but cautioned the talks are in the early stages.
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