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Carney announces taxpayer-funded investment in Canada AI company Cohere
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Summary
The federal government announced plans to buy an equity stake of up to $1.6 billion in Toronto-based AI company Cohere. In return, Cohere has committed to invest at least $1.7 billion in Canadian computing infrastructure and create at least 1,000 technical jobs by 2030. Prime Minister Mark Carney said the company’s incorporation and headquarters would remain in Canada.