Canadian AI Startup Cohere Has Raised $450M In Funding From Returning Investors Such As Nvidia And Salesforce Ventures, As Well As New Investors Including Cisco And Canadian Pension Fund PSP Investments
Portfolio Pulse from Benzinga Newsdesk
Canadian AI startup Cohere has raised $450 million in funding from returning investors such as Nvidia and Salesforce Ventures, as well as new investors including Cisco and Canadian pension fund PSP Investments.
June 04, 2024 | 3:16 pm
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Salesforce Ventures, the investment arm of Salesforce, has participated in a $450 million funding round for Canadian AI startup Cohere.
Salesforce Ventures' investment in Cohere underscores Salesforce's commitment to AI, which could enhance its product offerings and market position, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Cisco has joined as a new investor in a $450 million funding round for Canadian AI startup Cohere.
Cisco's investment in Cohere indicates its interest in expanding its footprint in the AI sector, which could be seen positively by investors looking for growth in new technology areas.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Nvidia has participated in a $450 million funding round for Canadian AI startup Cohere, indicating its continued investment in AI technologies.
Nvidia's participation in the funding round highlights its strategic focus on AI, which could positively impact its stock price as investors see continued growth in this sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80