Despite predictions of a slowdown, AI startups raised nearly $50 billion in 2023, including eight rounds of $500 million or more. It remains to be seen if 2024 will continue this trend or if investors will start questioning the large raises and valuations AI startups have been receiving.
Key takeaways:
- Toronto-based AI startup Cohere is reportedly in talks to raise between $500 million and $1 billion in funding.
- This news follows reports that another AI startup, Anthropic, was in discussions to raise $750 million in a funding round led by Menlo Ventures.
- Cohere, which builds large language models for AI learning, previously raised a $270 million Series C led by Inovia Capital at a $2.2 billion valuation.
- AI and AI-related startups raised nearly $50 billion in 2023, but it remains to be seen whether this trend will continue in 2024.