AI Startup Cohere, Backed by Nvidia, Trims Jobs After Successful Funding Round

Benzinga
Benzinga
  • 3 months ago
Cohere, an AI startup founded by ex-Google researchers and backed by Nvidia, cut around 20 roles after completing a $500 million funding round. Despite making cuts, Cohere is actively hiring for roles.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Cohere, an AI startup founded by ex-Google researchers and backed by NVIDIA, cut around
00:0720 roles after completing a $500 million funding round.
00:11Despite making cuts, Cohere is actively hiring for roles in customer operations, partnerships,
00:15revenue, sales, product design, and modeling, according to its website.
00:20Cohere's business model focuses on generative AI for enterprises rather than consumer chatbots.
00:25Notable clients include Notion, Oracle, and Bamboo HR.
00:29Many customers are in banking, financial services, and insurance.
00:33Generative AI investing saw over $29 billion invested across nearly 700 deals in 2023,
00:38a 260% increase over 2022.
00:41For all things money, visit Benzinga.com.

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