News Summary

Cohere, a Toronto-based AI scaleup founded by former Google researchers, is considering an initial public offering (IPO) as it aims for profitability before 2029. CEO Aidan Gomez highlighted the company’s differentiated deployment model and high margins at the Bloomberg Tech conference in London. Cohere, valued at $7 billion USD, recently opened a secondary share sale for liquidity and has reached $150 million USD in annual recurring revenue. The company is on track to generate $200 million in revenue this year. It has reduced its reliance on the US market, expanding globally with new offices and partnerships.