Canadian AI startup Cohere was valued at $6.8 billion following its latest $500 million funding round, as it seeks to expand its market share in a highly competitive industry of selling AI to enterprises.

Cohere has hired Joelle Pineau, Meta's former VP of AI research who previously oversaw the tech giant's fundamental AI research (FAIR) lab. In her newly created Chief AI Officer role, Pineau will oversee AI strategy across Cohere's research,

Artificial intelligence startup Cohere Inc. has raised $500 million in a new round of funding, part of a bid to compete with larger tech firms in selling AI services to businesses and governments.