Cohere's government-backed round values it at ~2x OpenAI's ARR multiple
Afinetheorem · x · 2026-10-30
Commenting on Cohere's funding, Afinetheorem credits its growth and the real market for on-prem models but criticizes the government-financing trend: the investment from "Canada" (i.e., taxpayers) values the company at roughly 2x the ARR multiple of OpenAI/Ant at $36B — likely why no major international VC participated.
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