Nvidia-Backed Cohere to Offer Secondary Sale of Employee Shares
Cohere Inc., an Nvidia-backed AI startup, is offering a secondary sale of employee shares. The company raised funds at a $7 billion valuation just a month ago. This tender offer allows employees to sell their stakes in the company to outside investors. The move provides liquidity for Cohere's employees and early investors, and it comes as the company continues to grow and attract funding. Nvidia, the prominent chipmaker, is one of Cohere's backers, highlighting the startup's potential in the artificial intelligence space. The secondary sale represents a common practice in the tech industry, where employees can capitalize on the value of their equity holdings, especially in fast-growing, well-funded startups like Cohere.
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