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Industry & Startups

AI company Cohere is raising another $7B, with Canada’s government putting in up to $1.6B

The Logic ·

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Summary

Cohere is seeking up to $7 billion in new funding at a planned valuation of $35.7 billion, including up to $1.6 billion from the federal government. Prime Minister Mark Carney said Cohere committed to remain incorporated and headquartered in Canada and invest at least $1.7 billion in Canadian computing infrastructure by 2030. The Toronto-based company plans to use the funding to develop AI products and models, secure computing capacity and expand internationally.