A photo of Nvidia CEO Jensen Huang holding up a wafer by FotoField via Shutterstock Nvidia (NVDA) has invested in another AI name most investors have never heard of. This time it's Cohere, a Toronto-based company in talks to raise up to $3 billion. According to a Bloomberg report, the round would value the company at $20 billion. That is nearly triple the $7 billion valuation it carried just a year ago. If it closes, it would be the largest funding round ever for a private Canadian startup. What I find interesting is where the funding is coming from. The Canadian government is putting in money directly, and Germany is in talks to join too. Cohere isn't chasing consumers the way most AI names do.
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