FILE PHOTO: AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Cohere, an AI foundation model company that competes with Microsoft-backed OpenAI, said on Thursday it had raised $270 million in a funding round from investors including Nvidia, Oracle and Salesforce Ventures.
The announcement confirmed the long-rumored funding for the Toronto-based AI startup, which focuses on building AI models for enterprise customers. Cohere didn't disclose its valuation, but people familiar with the matter said it is valued at $2.2 billion.
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