Nvidia and Oracle invest in Cohere, an OpenAI competitor

AI startup Cohere has secured $270 million in funding in a round backed by tech giants including Nvidia, Oracle and Salesforce Ventures. The Toronto-based company, founded by former AI researchers at Google Brain, develops artificial intelligence models for enterprise customers as an independent supplier not tethered to proprietary cloud providers. Cohere‘s generative AI service caters for global clients including streaming platforms and apparel companies, which utilise the technology for copywriting, search and summarisation purposes. The funding will go towards hiring and computing resources, Cohere said. Another AI startup, Anthropic, recently received backing from Google with Salesforce Venture support.