Canada Takes Equity Stake in Cohere Funding Round Targeting C$7 Billion
Canada is joining a funding round led by Germany’s Schwarz Group that targets C$7 billion ($4.49 billion) and would value the Toronto-based AI company at about C$36 billion, Cohere said Thursday.
Story updates
04:32:06 PM UTC
SquawkNews
By Paul VieiraOTTAWA--Canada said it is taking an equity stake in Toronto-based Cohere as part of the aritificial-intelligence company's latest multibillion-dollar funding round that attracted cash from chip-maker Nvidia and telecommunications firm BCE, among others.Cohere said Thursday it has rais…
By Leo MarchandonThe Canadian government is taking an equity stake in Cohere, joining a funding round led by Germany's Schwarz Group targeting C$7 billion ($4.49 billion) for the Toronto-based AI lab, Cohere said on Thursday.The round would value Cohere at about C$36 billion. Schwarz, which owns th…