Canada buys a stake in Cohere: up to C$1.6 billion, with strings attached
Prime Minister Mark Carney says Canada will take an equity stake of up to C$1.6 billion in Toronto AI company Cohere, paid in stages, as part of a planned C$7 billion funding round led by Germany's Schwarz Group that values the company at about C$36 billion. In return, Cohere must keep its headquarters in Canada, invest at least C$1.7 billion in Canadian computing infrastructure by 2030 and create at least 1,000 new technical jobs.
