Lidl Billionaire Backs Coheres Plan to Buy German AI Champion

News Source : Financial Post

News Summary

Artificial intelligence developer Cohere Inc. has agreed to buy Aleph Alpha, a startup once considered Germany’s national AI champion.
The deal includes a $600 million investment from German retailer Schwarz Group.
Cohere focuses on selling to businesses interested in customizable AI software.
The Canadian startup, which counts Nvidia Corp. as a backer, was valued at $7 billion in a secondary tender offer in October.
The Financial Times reported that the combined group will be valued at around $20 billion.

(Bloomberg) Artificial intelligence developer Cohere Inc. has agreed to buy Aleph Alpha, a startup once considered Germanys national AI champion, in a deal that includes a $600 million investment fro [+4986 chars]

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