Cohere and Aleph Alpha form a ‘transatlantic AI company’: $20B valuation, Schwarz Group invests $600M

Friends — from the startup and AI world: Cohere has announced a merger with German Aleph Alpha.

Briefly:
- The deal, not yet closed, values the combined company at $20 billion (FT).
- Schwarz Group will invest $600 million in the Series E round expected to close later this year (CNBC).
- The aim is to offer businesses and governments an alternative to dominant providers and to restore control over data.
- They plan to merge teams from Canada and Germany to build a ‘transatlantic AI force’.

Why it matters: the alliance could shift commercial AI market dynamics and broaden customer choice.

Do you think this alliance can realistically compete with market leaders?

#AI #startups #consolidation #technology