🇨🇦AI developer Cohere reportedly entered advanced financing talks for up to $3 billion at a $20 billion valuation.

Cohere’s financing is reported to be in advanced negotiations. Financial_Express attributes the report to Canada’s The Globe and Mail. The contemplated fundraising amount is up to $3 billion, not capital already received.

The reported $20 billion valuation is attached to the proposed transaction. The supplied messages do not specify whether that figure is a pre-money or post-money valuation. They also do not identify participating investors, the financing instrument or the expected closing date.

The update concerns the Canadian AI developer, not optical supplier Coherent. The sources identify the business as Cohere Inc., an AI/software company. They provide no financing conditions, conversion terms, collateral, ownership dilution or allocation of proceeds to compute infrastructure.