Artificial intelligence startup Cohere has told investors that it's seeing momentum with enterprise customers, even as rivals like Google , Anthropic and OpenAI claw for market share. Cohere hit roughly $240 million in annual recurring revenue last year, surpassing its $200 million target, according to a February investor memo viewed by CNBC. It saw quarter-over-quarter growth of more than 50% throughout 2025, the memo said. "Our thesis is clearly resonating in the market," the company wrote. "