Canada finalizes $240 m investment in Cohere

The Government of Canada has announced a significant investment of up to $240 million in Cohere Inc.'s $725 million project aimed at enhancing domestic computing capacity to support the burgeoning Canadian AI ecosystem. This investment will facilitate the establishment of a new AI data center, allowing Cohere to accelerate the commercialization of large language models, thereby fostering competition with international AI leaders. Through this initiative, Canada seeks to maintain its leadership in AI while empowering local firms in the rapidly evolving technological landscape.

Source: canada.ca