In the world of AI startups, the potential for a significant funding round is on the horizon for Toronto-based Cohere, as it enters discussions for a raise between $500 million and $1 billion. This news follows a previous report of Anthropic, another AI startup, considering a $750 million funding round. Cohere, which specializes in building large language models for AI to learn from new data, previously secured a $270 million Series C funding round. The AI industry experienced massive fundraising in 2023, with generative AI and AI-related startups raising nearly $50 billion, sparking interest in whether 2024 will follow the same path.