Canada says it will invest up to $1.6 billion in Canadian AI company Cohere as the firm raises a major funding round. Multiple outlets report Prime Minister Mark Carney makes the announcement and frames it as government support for a domestic AI company.
Alongside the government, several reports describe Cohere’s fundraising momentum and the involvement of major investors. The Wall Street Journal, Quartz and The Next Web say Cohere’s Series E round has attracted commitments including Nvidia, Schwarz Group, and telecom firm BCE, with Schwarz leading the initial close. The Next Web and Quartz add that Cohere says the round could scale up to about C$7 billion and that it targets a valuation around C$35.7 billion.
Other coverage emphasizes different valuation figures and context. The Globe and Mail and Bloomberg highlight the size and significance of the financing for Cohere’s standing among Canadian private tech firms, while Bloomberg also reports an “over $20 billion” valuation figure and notes Cohere’s value roughly triples from a year earlier. Overall, outlets largely agree on the government’s investment pledge and the scale of the fundraising, while they vary in which valuation number they foreground and whether they stress the “first close” versus the wider round size.
