Nvidia-backed AI startup Cohere is reportedly in talks to secure a significant investment that could propel the company’s valuation to $5 billion, marking a substantial leap from its previous valuation of $2.2 billion. What Happened: AI startup Cohere is negotiating to secure $500 million in funding, aiming for a $5 billion company valuation, Reuters reported on Thursday. The Toronto-based firm, known for developing AI foundation models similar to those of OpenAI, has experienced significant revenue growth, jumping to an annualized rate of $22 million this month from $13 million in December. T…