Pension fund manager PSP in talks to co-lead investment in AI company Cohere: report

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 92%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Potential funding from investment board would value Cohere at more than 200 times revenue

The Public Sector Pension Investment Board in Ottawa is in talks to co-lead an investment in Toronto-based artificial intelligence company Cohere Inc. at a US$5-billion valuation, according to a report by The Information, even as the pension manager’s previous bet on a hot technology sector has yet to pan out.Cohere, which is seeking to raise at least US$500-million, is bringing in only US$1.8-million per month.

D-Wave has repeatedly failed to meet its revenue forecasts since going public in 2022. It recently announced steps to boost revenue, underscoring the challenges of translating breakthrough science into a commercially viable business. D-Wave’s net loss of US$82.7-million for the year dwarfed its revenues. The company had US$41.3-million in cash, US$20-million in remaining capacity under its PSP loan and US$82.1-million in available financing through an equity line of credit as of Dec. 31.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 5. in BR

Brasil Últimas Notícias, Brasil Manchetes