Cohere Merges with Aleph Alpha at $20B Valuation — Transatlantic Sovereign AI Play Backed by €500M from Schwarz Group

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Canadian AI company Cohere announced its acquisition of German firm Aleph Alpha on April 24 at a combined $20B valuation, with Schwarz Group providing €500M in structured financing. Cohere shareholders hold ~90% of the merged entity with dual Toronto-Germany headquarters. The deal aims to build a transatlantic sovereign AI alternative to US big tech, with support from both Canadian and German governments. Regulatory approval pending.