Cohir for artificial intelligence is looking for a new financing for $ 5 billion

Cohere, the emerging artificial intelligence business (COHERH), is in advanced stages on obtaining a new financing round that would increase the company’s evaluation to $ 5 billion. According to a person familiar with the case, “Cohr” asks with investors about the collection of $ 500 million or more, and asks not to be identified because of the confidentiality of information. The agreement is expected to include large investors of the class finance round conducted by ‘Kohair’ last year, during which it raised $ 270 million. ‘Bloomberg News’ said at the time that this tour, announced last June, was estimated at more than $ 2.1 billion. It was led by ‘Inovia Capital’, and it included a group of strategic investors such as ‘Invidia’, ‘Oracle’ and ‘Salesforce Ventures’. It is not yet clear when the new financing round ends. Reuters previously reported a report on the talks, while Kohair refused to comment on the agreement. Cohr, based in Toronto, was founded in 2019 and works to build large linguistic models, which are trained software on large amounts of texts available online to analyze and create texts, and to assign them to users. Companies can use their models for things, such as summarizing customers -E -mails or writing websites. The collaborator and CEO of the company, Aidan Gomez, previously worked for ‘Google’, which is attached to ‘Alphabet’, where he participated in the compilation of a prominent research article during 2017 in the field of artificial intelligence research entitled “Attention is all you need”, which led to the progress of the analysis of texts. A new financing round in “COHR”, “COHR”, fast, and it is expected to take an extra financing round. Bloomberg said in August, a few months after his last tour, the company works with banks to raise more money. In September, Cohr erected a second headquarters in San Francisco. The company achieved an annual revenue of $ 22 million from March, which accelerated earlier this month with the launch of a new artificial intelligence model called “Command R”. The new tour of the Canadian pension investment business “PSP Investments”, according to a report published in the Information Magazine on Wednesday.