Ottawa investing up to $1.6B in Canadian AI company Cohere

Ottawa investing up to $1.6B in Cohere
Ottawa investing up to $1.6B in Cohere
Signage for Cohere, a Canadian artificial intelligence company, is seen at the Ottawa convention centre that bears its name, on Friday, Oct. 16, 2026.
THE CANADIAN PRESS/Justin Tang
Writer

Prime Minister Mark Carney says his government will invest up to $1.6 billion in Canadian AI company Cohere.

He made the announcement today as he welcomed European Union leaders to Montreal for a summit aimed at forging closer ties.

In April, Cohere announced it would merge with Germany's Aleph Alpha and said the company would be "anchored in" Germany and Canada.

Carney said that, under the agreement, Cohere will stay Canadian.

He said the company will invest at least $1.7 billion in new computing infrastructure in Canada and partner on research with Canadian institutions.

Carney said Canada won’t wait for the future of artificial intelligence to be decided elsewhere by those we don’t know or trust.

This report by The Canadian Press was first published Oct. 29, 2026. 

By Anja Karadeglija | Copyright 2026, The Canadian Press. All rights reserved.

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