Why Cohere is merging with Aleph Alpha

Cohere, a Canadian AI startup, is acquiring Germany-based Aleph Alpha with the support of Schwarz Group, the parent company of Lidl. The companies aim to offer a sovereign alternative to enterprises in the AI landscape dominated by American players. Cohere will lead the new entity, subject to approval, and Schwarz Group will become a strategic backer with €500 million in financing and a valuation of around $20 billion