Cohere AI Startup Plans IPO Soon as Industry Milestone

Cohere Inc., an AI startup based in Toronto and San Francisco, is preparing for an initial public offering (IPO) soon, potentially becoming one of the first AI model makers to go public. CEO Aidan Gomez emphasized that investors may prefer direct exposure to pure-play AI companies over indirect investments through large cloud providers like Amazon and Microsoft. The company, which focuses on customizable AI software for enterprise clients with an emphasis on data privacy and secure infrastructure, recently raised funds valuing it at $7 billion. Cohere is also considering a dual listing on the London Stock Exchange if there is sufficient investor interest. CEO Gomez expects the company to achieve profitability before 2029, and the IPO is seen as a milestone reflecting the maturation of the AI sector amid surging investor enthusiasm. This move could also influence related sectors, potentially impacting AI-linked cryptocurrency tokens and broader tech stock volatility.