Francois Chadwick claims that the “fundamental difference” is how Cohere processes calculations.
The new financial director of Cohere believes that there is a “fundamental difference” between the startup of artificial intelligence (AI) and its competitors of a large language model (LLM), which go beyond their enterprises instead of consumers.
According to Francois Chadwick, Coher spends money on computing power to train his LLMS, but he does not have the full computing value of his customers. According to him, customers should not pay the same amount for the integration of services, allowing the Canadian company to release an advantage in a crowded, well -capitalized and fundamental region of AI.
Chadvik talked with Betakit at All -all All at a conference in Montreal, immediately after Cohere announced raised an additional $ 100 million From the Business Development Bank of Canada (BDC) and NEXXUS Capital Management, as a result of which its estimate is up to $ 7 billion.
“They do not need to throw a child with water for a bath … to prove to themselves that they will receive this profitability of investment.”
Francois Chadwick,
Casing
Chavik, who previously served as an acting financial director of Uber, was hired earlier this month with the chief officer of AI Joel -Pino as a company's announcement 500 million US dollars In fresh financing. The representative of Cohere said that the first closure was rewritten, so the team decided to add less, the second closure of “give us additional capital, as well as allow really good investors to join.”
Founded in 2019 by former Google researchers, Cohere is building LLM, which support chat bots and other applications for artificial intelligence for enterprises and governments.
He is faced with rigid competition from the larger American LLM developers, such as Openai and Anpropic, which raised more money. Meanwhile, the technical giants that create their own models of AI – Google, Meta, Amazon and Microsoft – expect that next year the total $ 400 billion on capital investments next year will be spent next year Wall Street JournalField chip -giant nvidia also announced that he invested Up to Openai up to 100 billion US dollars to finance more data centers for AI Compute.
The main product is Cohere The platform of the working area called NorthThe field allows users to create personalized artificial intelligence agents to perform and automate tasks, such as the summary of documents and emails. It also offers security options, such as local deployment (launching software on the company's computers, and not on remote servers).
Chadwick noted that Cohere allows customers to continue to use their existing cloud services and artificial art models when deploying North Platform Cohere.
“They do not need to throw the child with water for the bath … To prove to themselves that they are going to get this profitability of investment,” said Chadwick.
According to a source familiar with the company's activities, Cohere on the way to obtaining $ 200 million this year. This means that its assessment will be 35 times higher than income, which puts it lower than Openai, bewilderment and anthrop Some gradesField
On the stage, in general, Cohere Director General Aidan Gomez said that 99 percent of the company's income came from Canada two years ago. Now he puts this number from 85 to 90 percent from the more appetite from Canadian buyers.
Throughout the Cohere conference, he was presented on several panels and praised government officials, such as the Minister of Artificial Intelligence Evan Solomon and Minister of Industry Melanie Jolie as a leading company in art.
“We will build a kure, and we will make it a Canadian champion,” Jolie said in a final speech.
In addition to providing Cohere with 240 million dollars through its Sovereign Ai Compute StrategyThe government also signed a non -connective Memorandum of understanding With the company to study the use of their AI instruments in the public service. Joel Pino, the main specialist in AI, was also named in the framework of the new federals. Target group of AI strategyField
Since the federal government is working on new rules for data and artificial intelligence, Chadwick believes that Canada should find a balance between the United States anti -regulation approach and the more stringent laws of the European Union.
“I think that it should happen … You are building the rules and rules that allow companies to build, allow capital to move into these companies, and then you invest reasonable rules on how they are actually used,” he said.
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