Nvidia and Salesforce double down on AI startup Cohere in $450M round

Canadian AI startup Cohere raised $450 million, backed by Nvidia and Salesforce Ventures, aiming for a $5 billion valuation. The previous valuation was $2.2 billion, and they reported $35 million in annualized revenue by March end. Cohere competes with AI companies like OpenAI and Anthropic.

• Cohere's round led by Nvidia, Salesforce.
• New investors include Cisco, PSP.
• Company valued previously at $2.2B.
• Plans to raise more at $5B valuation.
• Annual revenue reached $35M in March.