Canada announces landmark investment in Cohere to scale secure, sovereign AI

CANADA, October 29 - Artificial intelligence (AI) is the next great technological transformation. It is imperative to Canadians’ prosperity, security, and sovereignty that we build and govern these technologies on our own terms. The opportunity to cement that autonomy is now. The decisions we make today will determine whether Canadians have that choice – to use secure, sovereign, Canadian-made AI – for decades to come.

To that end, the Prime Minister, Mark Carney, today announced the Government of Canada’s commitment to making an equity investment of up to $1.6 billion in Cohere. This is a commercial investment, announced alongside private investors, including NVIDIA, Bell, and Schwarz Group.

Founded in Toronto, Cohere builds secure AI systems for businesses and governments. Its technology gives organisations greater control over where sensitive data is stored, how it is used, and who can access it. The government’s planned landmark investment will enable Cohere to scale and compete in the global AI market. Cohere will now be able to develop far more advanced models and products, scale up its computing infrastructure, and expand its Canadian workforce to serve more businesses and governments in Canada and around the world. Building this capability at home ultimately means that Canadian businesses and governments will have more choice in how they adopt AI and greater control over their sensitive information.

Cohere is a Canadian success story that is projected to be a leader in sovereign AI.

By taking an equity stake, Canada will share in the company’s success from the opportunities created through Cohere’s growth.

As part of this investment, Cohere will:

Create at least 1,000 new high-paying Canadian technical jobs by 2030.
Commit at least $1.7 billion to additional computing infrastructure in Canada by 2030.
Maintain its Canadian incorporation and Canadian headquarters.
Invest in research partnerships in Canada and create opportunities for students and recent graduates.
Keep working with the Canadian AI Safety Institute to champion the safe development and use of advanced AI.

The investment is for Canadians, by Canadians. It will be made in stages, with regular reporting on progress against the company’s commitments, including jobs and investment in Canada. This approach will give Cohere the capital to expand and hold the company accountable to deliver benefits to Canadians.

Canada’s ambition is to build advanced AI here at home, help Canadian businesses put it to work, and create opportunities for Canadian talent. This investment is part of that mission: strengthening our ability to develop and operate secure AI, compete globally, and ensure Canadians share in Cohere’s success.

Quotes

“Canada’s investment in Cohere is an investment in choice, in security, and in our ability to live our lives as we choose. Today, true sovereignty depends on our ability to build, adopt, and govern AI on our own terms. The bigger and faster Cohere can scale up their models and operations, the more businesses and governments can control where sensitive data is stored, how it is used, and who can access it. We need this technology. That’s why this company’s growth has been so extraordinary. It is in all our interests for Cohere to succeed, and now all Canadians will have a share in that success.”

— The Rt. Hon. Mark Carney, Prime Minister of Canada

“It is not enough for great companies to start in Canada. We want them to grow here, build here, and create good jobs here. That means giving Canadian entrepreneurs the conditions to turn ambitious ideas into globally successful businesses. Investing in Cohere sends a clear message: you should not have to leave Canada to build a company that succeeds around the world. We are backing Canadian talent and giving Canadians a stake in that success.”

— The Hon. Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario

“We founded Cohere in Canada with the belief that this country could build AI companies capable of competing at the highest level globally. This investment helps accelerate that vision by expanding our ability to attract world-class talent, build frontier AI systems, and develop secure, sovereign technology from Canada for customers around the world. As AI becomes increasingly critical to economic growth and competitiveness, organisations need solutions that give them greater control over their data, infrastructure, and how AI is deployed. We’re proud to be growing from Canada, creating high-value jobs and innovation here at home, and grateful for the Government of Canada’s support as we help build the future of sovereign AI.”

— Aidan Gomez, Co-founder and Chief Executive Officer of Cohere

Quick facts

Canada’s equity investment in Cohere will total up to approximately $1.6 billion and will be made in stages.
Founded in Toronto, Cohere builds secure AI systems for businesses and governments that need greater control over their data.
Cohere’s recent merger with Aleph Alpha brings together Canadian and German AI expertise.
Investments from NVIDIA and Schwarz Group in this financing round strengthen Cohere’s international partnerships and its ability to serve businesses and governments in Canada and around the world.

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