Lidl Billionaire Backs Cohere’s Plan to Buy German AI Champion
The Cohere, Inc. logo.
Photographer: Jaque Silva/Nurphoto/AP Photo
Artificial intelligence developer Cohere Inc. has agreed to buy Aleph Alpha, a startup once considered Germany’s national AI champion, in a deal that includes a $600 million investment from German retailer Schwarz Group.
Schwarz Group, a major Aleph Alpha shareholder that’s owned by German supermarket billionaire Dieter Schwarz, pledged to back Canada’s Cohere in its next financing round, the companies said in a statement Friday. They declined to share additional financial terms.