Cohere on Thursday announced that it had raised an oversubscribed $500 million round, bringing its valuation to $6.8 billion. This is up from the $5.5 billion valuation it landed a little over a year ago when it raised its previous round, also $500 million.

Toronto-headquartered Cohere was one of the first breakout LLM model makers, founded in 2019 by co-founder Aidan Gomez, one of the authors of the “ Attention is all You Need ” paper that became the foundation of modern AI. But it has been a sleeper entrant in the AI model wars of late, dominated these days by OpenAI, Anthropic, and Meta. Its market proposition, however, has always been to offer secure LLMs specifically geared for enterprise use, not for consumers.

To that end, it’s landed partnerships with some of the biggest na

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