all AI news
Tiger Global Nears Deal to Sell Slice of Cohere Stake at $3 Billion Valuation
The Information www.theinformation.com
Tiger Global Management is nearing a deal to sell part of its stake in OpenAI rival Cohere at a roughly $3 billion valuation, a markup of more than 40% from Cohere’s last financing round in June, according to people familiar with the matter.
Tiger is selling a stake of roughly 2.1% of Cohere for about $63 million, equal to the dollar amount of Tiger’s initial investment in Cohere, according to one of the people. Tiger will retain a roughly 5% …
billion cohere deal financing global management openai openai rival part people selling tiger global tiger global management valuation