Canadian-based enterprise AI company, Cohere, has announced it will merge with German-based company, Aleph Alpha, to create a "transatlantic AI powerhouse". The deal, which has yet to close, will value the newly formed company at $20 billion. The merger aims to offer businesses and governments greater independence and control over their data. The investment of Schwarz Group, one of the main backers of the company, will also contribute $600 million to Cohere's Series E round.