Nvidia-Backed Cohere Says IPO Timing Uncertain Despite Surging Revenue

Canadian artificial-intelligence company Cohere's timeline for going public remains uncertain, according to Chief Executive Aidan Gomez, despite strong revenue growth. Gomez said the timing depends on prevailing market conditions as well as the company's own readiness, the Wall Street Journal reported.

The Toronto-based startup is drawing fresh backing from Nvidia and the Canadian government. Cohere sells AI models to governments and companies in regulated industries, a positioning that allows customers to retain control over their data and determine where the technology is deployed. That emphasis on data sovereignty and deployment control distinguishes the company's offering in sectors with strict compliance requirements.

Executives told reporters at a media roundtable on Thursday that Cohere's revenue has doubled each year for the past three years. The company's growth trajectory has therefore made it an attractive candidate for public markets, yet management has stopped short of committing to a specific listing window. The primary source does not specify deal values, valuation figures, or a target exchange.

For institutional investors tracking the enterprise AI sector, the story signals that a prominent Nvidia-backed private company with rapid, sustained growth is weighing a public listing but is not yet committed to a timetable.