Canada to invest up to $1.6B in Toronto-based AI company Cohere

Source: CBC Politics
Date: 2026-10-29 17:12:24.0
Tags: [National, Economy, Technology, Industry, Infrastructure]

The federal government of Canada announced an equity investment of up to $1.6 billion in Toronto-based artificial intelligence company Cohere as part of a broader $7 billion funding round led by Germany's Schwarz Group. The funding will support model development, products for regulated industries, and computing infrastructure, with Cohere committing to invest at least $1.7 billion in new computing infrastructure in Canada by 2030. Additional participants in the funding round include Nvidia and BCE subsidiary Bell Canada, ensuring Cohere's incorporation and headquarters remain in Canada.