Cohere, a notable startup in competition with OpenAI, has been reported to have an annual revenue of approximately $13MM in annual recurring revenue (ARR). This revelation comes amidst the company's prolonged efforts to secure additional funding. Despite the modest revenue, Cohere had been seeking a valuation of $6 billion last year, which translates to a 450x multiple of its ARR. The company, which has previously raised $445M, faces challenges in the AI development sector, highlighting the broader issue of revenue generation among AI startups compared to their initial hype and fundraising achievements.