Cohere acquires German AI startup Aleph Alpha

Enterprise AI company Cohere is set to merge with German-based Aleph Alpha, creating a new entity valued at $20 billion. This strategic move aims to establish a significant 'transatlantic AI powerhouse' and provide businesses and governments with a viable alternative to dominant tech players. The merger intends to foster greater data independence and control for clients by combining talent pools from Canada and Germany. Additionally, Schwarz Group, a major backer of Aleph Alpha, will invest $600 million in Cohere's upcoming Series E funding round, signaling strong financial support for the combined entity's growth and market expansion.