Group 1 - Cohere raised an additional $100 million, increasing its valuation to $7 billion, following an oversubscribed $500 million round announced in August at a $6.8 billion valuation [1][5] - Cohere signed a partnership deal with AMD, which is also one of its investors, while competitor OpenAI secured a significant investment from Nvidia [2][3] - Cohere's AI models can now run on AMD's Instinct GPU, and AMD will use Cohere's services internally, although Cohere will continue to support Nvidia GPUs [3] Group 2 - Cohere was co-founded in 2019 by Aidan Gomez, a key figure in the development of the "Transformer" architecture that spurred the generative AI boom [4] - Despite its rapid growth, Cohere has been overshadowed by competitors like OpenAI and Anthropic, with OpenAI recently valued at $500 billion and Anthropic at $183 billion [5] - The company is focusing on the enterprise market, emphasizing AI sovereignty and local control of data and models, attracting new investors like the Business Development Bank of Canada and Nexxus Capital Management in its latest funding round [6]

AI sovereignty is meaningless when so many non-US businesses rely on American cloud companies; better to utilize the expensive infrastructure to nurture domestic firms, argues @parmy (via @opinion) https://t.co/SFOouR5HrK ...