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Investing.com -- Cohere Inc. is planning to go public "soon," according to Bloomberg, citing Chief Executive Officer Aidan Gomez, potentially marking one of the first IPOs from an artificial intelligence model maker.
Speaking at Bloomberg Tech in London on Tuesday, Gomez suggested public market investors would welcome the opportunity to invest directly in AI rather than through large cloud providers like Amazon.com Inc. (NASDAQ:AMZN) and Microsoft Corp. (NASDAQ:MSFT).
"I think public market investors would be excited to have a pure play AI investment opportunity as opposed to investing by proxy through hyperscalers," Gomez said. "But I don’t want to jinx it."
The AI startup, which maintains headquarters in both Toronto and San Francisco, is also considering a potential listing on the London Stock Exchange if there is "enough investment capital," according to Gomez.
Cohere raised funds at a $7 billion valuation in September and is currently conducting a tender offer allowing employees to sell their stakes to outside investors.
Founded in 2019, Cohere focuses on building and selling customizable AI software specifically for business clients rather than consumers. The company has worked to distinguish itself by emphasizing highly secure systems that protect sensitive data.
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