Cohere acquires, merges with German-based startup to create a ‘transatlantic AI powerhouse’

Cohere, a Canada-based enterprise AI company, is merging with Aleph Alpha, a Germany-based enterprise AI company. The newly formed company will be valued at $20 billion. Schwarz Group, one of Aleph Alpha's backers, will invest $600 million in Cohere's Series E round. The merger aims to provide businesses and governments with an alternative to dominant tech players, offering greater independence and control over data.