Canada to invest up to C$1.6 billion in Cohere as valuation reaches C$35.7 billion
Ottawa will take an equity stake of up to C$1.6 billion in Toronto-based AI firm Cohere, whose Series E round targets up to C$7 billion at a C$35.7 billion valuation, with commitments from Nvidia, Schwarz Group and BCE. Cohere must stay Canadian, add jobs and spend C$1.7 billion on compute by 2030.
Read the full story at The Globe and Mail ↗
Timeline · 7 reports
- 2026-10-30 14:35 · Unite.AI
Cohere Projects Over 1,500 Canadian Jobs and C$4 Billion Investment by 2031 - 2026-10-30 14:13 · Semafor Technology
Canada to take equity stake in AI firm - 2026-10-30 11:44 · AI Insider
Cohere Announces Initial Close of Record Series E Targeting CAD $7B - 2026-10-30 08:20 · DailyAI
Canada Buys Into Cohere With Up to C$1.6 Billion of Public Money - 2026-10-29 19:58 · Wall Street Journal Technology
Canada to Take Equity Stake in AI Firm Cohere - 2026-10-29 19:48 · Barron's
Canada Buying Stake In AI Firm Cohere To Bolster Tech Sovereignty - 2026-10-29 16:03 · The Globe and Mail
Ottawa to invest up to $1.6-billion in Cohere as AI firm’s valuation soars to $35.7-billion