Jonas Andrulis

Money Moves

Expected to lead Berlin-based European operations

Europe spent three years trying to build its own answer to OpenAI. On Friday, it largely gave up on doing it alone. Cohere, a Toronto-based artificial intelligence company, agreed to acquire Germany's Aleph Alpha in a deal valuing the combined business at roughly $20 billion, paired with a $600 million Series E funding round led by the German retail giant Schwarz Group.

Updated Yesterday