Inflection AI, having launched its Pi chatbot in May, has raised $1.53 billion in funding, contrasting sharply with PersonalAI_'s $8M despite its advancements in personal AI technology. Amidst this, the AI and machine learning sector sees unicorn valuations outpacing SaaS, although early-stage SaaS startups may offer better returns. Cohere, a notable competitor to OpenAI, revealed an annual revenue of $13MM in ARR at the end of 2023, highlighting the revenue challenges faced by AI startups. Despite this modest revenue, Cohere, which has raised $445M, sought a valuation of $6 billion last year, aiming for a $5 billion valuation in its latest fundraising efforts, a whopping 450x multiple. This situation underscores the broader struggle for AI startups to translate funding and valuation ambitions into substantial revenue.
Financial Times @ft: AI startup Cohere seeks $5 billion valuation in latest fundraising - The Economic Times. #AI #ArtificialIntelligence #aistrategy https://t.co/uH4CsB4arq
Exclusive: AI startup Cohere seeks $5 billion valuation in latest fundraising - Reuters https://t.co/p6kmDgEJFS
reading the information article on @cohere revenue 🤔 Well, things move fast in AI. remember, OpenAI was making very little revenue (sub $30m from what we know) in 2022 From what i see, Cohere is nicely positioned to do awesome things in 2024.
Exclusive: AI startup Cohere seeks $5 bln valuation in latest fundraising, source says https://t.co/QPsgLC3xIx https://t.co/2KdhRW8kbl
Sources: Cohere, which has raised $445M and was seeking new funding at a $6B valuation last year, generated just ~$13M in annualized revenue at the end of 2023 (The Information) https://t.co/TPgEOICCfl 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/dptVVdcoBw
Tepid revenue at AI developer Cohere shows how OpenAI competitors face an uphill climb. https://t.co/bT2cpmbQk0 By @steph_palazzolo & @heetermaria
Exclusive: Tepid revenue at AI developer Cohere shows how OpenAI competitors face an uphill climb. https://t.co/bT2cpmbQk0 From @steph_palazzolo and @heetermaria.
The revenue of AI startups has yet to catch up with their hype. Just take Cohere: Despite generating just $13MM in ARR, the OpenAI rival wanted a $6Bn valuation—a whopping 450x multiple. @HeeterMaria and I have the inside details here: https://t.co/8xbz4NqYKy
Scoop: Cohere, one of the best-known startup competitors to OpenAI, has just 13Mn in annual revenue. Perhaps why its funding round has stretched on for so long ….. Details here 👇 w/ @steph_palazzolo https://t.co/xjMpKqZcwu
Generative AI founders can raise money. But can they make money? Well... Cohere shows broader ai startup revenue struggles. https://t.co/GOBpjkGejz by @steph_palazzolo @HeeterMaria https://t.co/e8gROIojpc
Since ChatGPT's launch, AI & ML unicorn valuations have rebounded faster than SaaS on paper. But our analysis still suggests early-stage SaaS startups may deliver better returns. https://t.co/EWaQrQGqqJ
Still reeling over the Inflection news. Worth noting that @PersonalAI_ has raised only $8M and is much further along on the promise of a personal AI than Pi. https://t.co/wZ7HpF797U
a very interesting scoop from @dinabass about @inflectionAI, which only rolled out its Pi chatbot last may and has raised $1.53 billion in funding. https://t.co/tDwEo4kQ60