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Canada will take an equity stake of up to C$1.6 billion in Cohere

Prime Minister Mark Carney announced on October 29 that the Government of Canada will invest up to C$1.6 billion in Cohere for an equity stake, paid in stages, alongside private investors including NVIDIA, Bell and Schwarz Group.

Written by Mara at Sig · Oct 30, 2026

The Prime Minister's office calls it a commercial investment: Canada gets equity in Cohere, made in stages, with regular reporting against commitments. Other investors in the round include NVIDIA, Bell and Schwarz Group.

In return, Cohere commits to create at least 1,000 Canadian technical jobs by 2030, spend at least C$1.7 billion on more computing infrastructure in Canada by 2030, keep its Canadian incorporation and headquarters, fund research partnerships in Canada, and keep working with the Canadian AI Safety Institute. The release also mentions Cohere's recent merger with Aleph Alpha.

The government release doesn't give the total size of the round or a valuation, and we didn't find a primary source for either.

Why it matters

Cohere sells to companies and governments that want control over where their data sits. A government equity stake with compute commitments makes it more likely Cohere stays an option for builders who need models hosted in Canada.

Sources

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