The Toronto-based startup announced separate deals with both tech giants this week. Dell will sell customers servers pre-loaded with Cohere’s North platform to use in their own data centres. SAP, meanwhile, will use Cohere’s models to power AI features within its software products. (The Logic)
Talking point: Cohere’s current target market is big businesses in regulated industries, which want AI tools to meet the same high security and regulatory standards as the rest of their enterprise technology. Both deals could help the startup find more such clients. It has similar arrangements with Oracle and Fujitsu, which like SAP are also investors in Cohere. Last week, Reuters reported that Cohere’s revenue had hit an annualized rate of $100 million, after The Information reported the startup had failed to hit older sales targets. CEO Aidan Gomez told Bloomberg that Cohere is nearing profitability.
