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Cohere Announces Series E Fundraise Targeting CAD $7 Billion to Meet Surging Global Demand for Secure, Sovereign AI
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Summary
Cohere announced the initial close of a funding round targeting up to $7 billion, which would value the company at $35.7 billion. Schwarz Group is leading the round; new investors include Bell Ventures, Bullhound Capital and the Government of Canada, while Inovia Capital, NVIDIA and Prosperity7 Ventures are returning. Cohere said it will use the financing to develop AI products and models and invest in computing infrastructure.