By Florence Loeve<\/p>\n
PARIS (Reuters) -Canadian AI startup Cohere is expanding operations in Europe, intensifying competition with homegrown players like France’s Mistral to supply AI services in the region.<\/p>\n
Cohere, which was valued at $6.8 billion in its latest funding round, opened an office in Paris on Monday and is keen to take a bigger share of Europe’s growing demand, said CEO Aidan Gomez.<\/p>\n
The firm will join others lured to the French capital by French President Emmanuel Macron’s push to create a European AI hub in the country, part of a bid to reinforce Europe’s digital sovereignty.<\/p>\n
“Previously, when we’ve looked at our global revenue, Europe had been slower to take off, but we’re starting to see renewed momentum, in particular this year,” Gomez told reporters.<\/p>\n
Smaller AI firms are striving to rival U.S.-based giants such as OpenAI<\/a>, Microsoft<\/a> and Meta, which dominate the industry. Both Cohere and European AI champion Mistral are targeting business clients with an emphasis on data security and sovereignty.<\/p>\n Mistral, valued this month at $11.7 billion, declined to comment on Cohere’s offering in Europe.<\/p>\n Founded in 2019, Cohere already counts major global companies such as South Korea’s LG, Japan’s Fujitsu and Oracle in the U.S. as partners, said Gomez.<\/p>\n He said recent political unrest in France was not a concern, and that he was “super confident” in the country’s tech ecosystem.<\/p>\n (Reporting by Florence Loeve; Editing by Jan Harvey)<\/p>\n","protected":false},"excerpt":{"rendered":"By Florence Loeve PARIS (Reuters) -Canadian AI startup Cohere is expanding operations in Europe, intensifying competition with homegrown…\n","protected":false},"author":2,"featured_media":146198,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,18648,276,277,49,48,3412,3456,5493,61],"class_list":{"0":"post-146197","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-aidan-gomez","10":"tag-artificial-intelligence","11":"tag-artificialintelligence","12":"tag-ca","13":"tag-canada","14":"tag-emmanuel-macron","15":"tag-europe","16":"tag-mistral","17":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/146197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=146197"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/146197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/146198"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=146197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=146197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=146197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}