Canada plans a staged, up-to-$1.6-billion stake in Cohere

The federal government plans to invest up to $1.6 billion in Cohere, a Canadian company that develops AI systems for businesses and governments. The investment will be made in stages and is a commercial equity investment, alongside private investors.

Cohere’s commitments by 2030 include:

• Create at least 1,000 new Canadian technical jobs.
• Commit at least $1.7 billion to additional computing infrastructure in Canada.
• Keep its incorporation and headquarters in Canada.
• Invest in Canadian research partnerships and opportunities for students and recent graduates.
• Continue working with the Canadian AI Safety Institute.

The government says it will receive regular reports on progress, including jobs and investment in Canada.