Cohere Closes First Tranche of $5B Round at $20.5B — SkimNews
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- Cohere completed the first close of a round it expects to total up to $5B, with Canada agreeing to invest up to $1.14B.
- Nvidia is backing the round alongside Canada, with the deal valuing Cohere at $20.5B — above the $20 billion mark cited in the round's coverage.
Why it matters: Canada is committing up to $1.14 billion to Cohere at a $20.5 billion valuation, joining Nvidia in a round Cohere expects to total up to $5 billion. Only the first close is done, so the government is now a direct investor in a private company before the rest of the raise lands.
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