A.I. Start-Ups From Canada and Germany Merge to Take On Silicon Valley
Cohere, a Canadian AI start-up, is acquiring Aleph Alpha, a German AI company, to create a trans-Atlantic alliance and provide a 'sovereign alternative' to American tech giants. The merged company aims to lure customers uneasy about relying on US firms for AI services.
Cohere, a Canadian AI start-up founded in 2019, is acquiring Aleph Alpha, a German AI company. The deal aims to create a trans-Atlantic alliance to compete with US tech giants. The governments of Canada and Germany helped orchestrate the merger. The new company will target customers in business and government uneasy about relying on American firms for AI services. Cohere and Aleph Alpha claim their deal will provide a 'sovereign alternative' in an era of growing AI concentration. The combined company's value is reported to be $20 billion.
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