Cohere, a competitor to OpenAI, is in talks to raise up to $1 billion in funding. Based in Canada, Cohere is a startup that has completed four rounds of financing to date, with its most recent round in June 2023, valuing the company at $2.2 billion. Founded by former Google scientists and members of the Google Brain team, Cohere is dedicated to developing large-scale language models. The valuation of AI startups is "much higher" than that of non-AI startups, with valuations in the B round being more than 1.5 times higher than those of non-AI startups.