News Summary

• Canadian AI startup Cohere is taking over Germany-based Aleph Alpha.
• The move is in a bid to offer a sovereign alternative to enterprises in an AI landscape dominated by U.S. tech giants.
• “Sovereign AI” refers to systems where companies and governments retain full control over their own data.
• The deal’s key financial backer is Schwarz Group, a German retail conglomerate.
• It will also become a strategic backer of the newly combined entity with €500 million in structured financing (approximately $600 million)