Canada is buying a stake in Cohere, its biggest homegrown AI company.
Prime Minister Mark Carney said Thursday that Canada will invest up to 1.6 billion Canadian dollars in Cohere. The money is part of a round targeting 7 billion Canadian dollars, the largest private raise in Canadian history. Cohere builds AI that banks and governments run on their own servers.
Why it mattersGovernments now want to own a piece of their AI, not just rent it from American labs. Expect more countries to back a local champion the same way.
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