Toronto-based AI foundation model company, Cohere, is reportedly in discussions to raise funds in a funding round, which would value the startup at over $6bn.
Cohere aims to introduce a new dialogue model similar to ChatGPT, which allows enterprise users to generate text.
Cohere, a start-up founded by former Google Alphabet researchers in 2019, is reportedly in discussions to raise hundreds of millions of dollars in funding.
The AI company, which uses foundation models to train AI systems to perform a range of tasks, is aiming to create a new dialogue model similar to ChatGPT.
This would allow enterprise users to generate text and refine the output through engagement with the model.
Reports suggest that the funding round could value Cohere at over $6bn.
Meanwhile, a year ago, Google's AI scientists released an AI program called LaMDA, which can produce human-sounding text.
Following its release, former Google engineer Blake Lemoine claimed that the AI program might be "sentient", sparking controversy.
However, Google denied the idea of sentience, and Lemoine ultimately lost his job at the company.