Cohere is one of a group of AI startups Revitalizing San Francisco’s commercial real estate sector. Currently, Canadian companies are coming to new york cityThe same goes for AI as it looks to expand its reach into the Big Apple.
New York City is 3rd hottest real estate market The AI startups behind Austin and San Francisco are getting more and more attention. AI companies Contributing 1.7 million square feet The Commercial Observer reported that new demand for office space in the city increased in January. In addition to Cohere’s new office opening, the following reports surfaced last week: OpenAI is considering leasing 60,000 square feet A look at office space in New York. AI video editing startup captionFounded by former Microsoft engineers, it secured a lease this week.
OpenAI rival Cohere creates large-scale, multilingual language models.the collected more money — from major companies like Nvidia, Oracle, and Salesforce — more than any startup other than OpenAI and Anthropic. Kohia is also Raised $1 billion in funding The Financial Times reported in January that it was attracting new funding from investors. AI startups are in expansion mode just like traditional tech companies lay off workers and restructure To continue.
But while more AI startups may be taking over office space, most companies are still headquartered in California. About 26 of the nation’s top 100 AI companies are headquartered in California, and only six are in New York, according to a report from commercial real estate firm Cushman & Wakefield.
Cohere has 300 employees, but so far only 30 are working in the New York office. The company did not respond to Quartz’s inquiries about further hiring efforts in the city.
Quote: Chuck Schumer is happy about AI in New York City
“Cohere is an exciting and innovative company and will be a great addition to New York’s burgeoning technology sector. We are pleased to see New York at the forefront of American-led AI innovation. And I look forward to continuing our work in the Senate to safely leverage this technology for the benefit of everyone.” — U.S. Senate Majority Leader Chuck Schumer
In terms of numbers
$445 million: Cohere’s funding compares to Anthropic’s $450 million and a far cry from OpenAI’s $11.3 billion.
6: Number of largest US AI startups headquartered in New York City
5.6 million: Square feet of office space leased by AI companies in New York as of Q3 2023; According to Cushman & Wakefield
7%: How much can AI boost global GDP over the next 10 years (equivalent to $7 trillion)? According to Goldman Sachs
