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Cohere AI funding and expansion

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2026-10-29 20:49 UTC → 2026-10-30 00:20 UTC · added ~~removed~~

The artificial intelligence company Cohere, which maintains dual headquarters in Toronto and Berlin following a merger with Germany’s Aleph Alpha, has secured significant capital through a major funding round. On October 27, the Canadian government announced an equity investment of up to C$1.6 billion in the firm. Prime Minister Mark Carney stated the move is intended to bolster technological sovereignty and ensure Canada plays a central role in AI development, rather than relying on entities from the United States or China. This commercial investment, made alongside private partners including Nvidia, Bell, and Germany’s Schwarz Group, is tied to domestic milestones. By 2030, Cohere has committed to creating at least 1,000 high-paying technical jobs and investing at least C$1.7 billion in Canadian computing infrastructure. The company will maintain its Canadian headquarters and incorporation while continuing to work with the Canadian AI Safety Institute. By October 29, Cohere completed a Series E funding round totaling up to 7 billion Canadian dollars, marking the largest private capital raise in Canadian technology history. The round was led by the Schwarz-Gruppe to expand its European AI and cloud infrastructure presence. Following the funding, the company’s valuation reached approximately 35.7 billion Canadian dollars. Digital innovation minister Evan Solomon indicated the deal is part of a broader strategy to support domestic tech, which may include a forthcoming C$500-million Canadian Tech Growth Fund to provide flexible growth capital for the sector.

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