Cohere, an AI startup backed by Nvidia, laid off 5% of its workforce, approximately 20 employees, shortly after raising US$500 million in new funding..The US$500 million funding round was led by Canadian pension fund PSP Investments and included investors like AMD, Cisco, and Salesforce..The layoffs were part of a strategic realignment to ensure the company remains competitive and focused on its core goals..Despite the layoffs, Cohere plans to continue hiring, aiming to double its overall headcount by the end of 2024..Cohere is targeting enterprise customers with its generative AI models, differentiating itself from consumer-focused AI solutions..Read More Stories
Cohere, an AI startup backed by Nvidia, laid off 5% of its workforce, approximately 20 employees, shortly after raising US$500 million in new funding..The US$500 million funding round was led by Canadian pension fund PSP Investments and included investors like AMD, Cisco, and Salesforce..The layoffs were part of a strategic realignment to ensure the company remains competitive and focused on its core goals..Despite the layoffs, Cohere plans to continue hiring, aiming to double its overall headcount by the end of 2024..Cohere is targeting enterprise customers with its generative AI models, differentiating itself from consumer-focused AI solutions..Read More Stories