Cohere Inc., which creates artificial intelligence models for businesses, has rapidly scaled the ranks to become Canada’s most valuable and most-funded AI startup since its founding in 2019. Photo by Gabby Jones/Bloomberg files

Canada’s top-funded artificial intelligence startup has secured a US$500 million fundraise that boosts Cohere Inc. ‘s valuation to US$6.8 billion as it tries to become a mainstay in a heavily funded and increasingly competitive race to supply businesses and governments with AI services.

The Toronto-headquartered company has also added a key figure to its AI personnel by hiring Meta Platforms Inc. ’s former AI head Joelle Pineau as its chief AI officer. Pineau will lead the company’s research and product development efforts from Montreal, where Cohere open

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