Canada-based AI startup Cohere, which primarily builds and delivers Large Language Models (LLM), is expanding operations in Europe, intensifying competition with domestic players such as France’s Mistral to provide AI services in the region, Reuters reported.
Cohere, founded in 2019 and valued at $6.8 billion in its latest funding round, opened an office in Paris on Monday, September 15, and is keen to capture a bigger share of Europe’s growing demand, CEO Aidan Gomez said.
The AI company will join others attracted to the capital, Paris, to create a European artificial intelligence hub in France, as part of efforts to strengthen Europe’s digital sovereignty.
“Previously, when we’ve looked at our global revenue, Europe had been slower to take off, but we’re starting to see renewed momentum, in particular this year,” CEO Gomez told reporters, according to Reuters.
Small AI startups are trying to compete with US-based giants such as OpenAI, Microsoft, and Meta, which are far ahead in the industry. Both Cohere and European AI leader Mistral are targeting business clients with an emphasis on data security and sovereignty.
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According to Gomez, Cohere already counts major global companies such as South Korea’s LG, Japan’s Fujitsu, and the United States’ Oracle as partners.
The Cohere CEO said the recent political unrest in France is not a concern, and he was “super confident” in the country’s tech ecosystem.
This article includes reporting from Reuters.