Canada Announces Up to C$1.6 Billion Investment in Cohere

On 29 October 2026, Prime Minister Mark Carney announced a planned federal equity investment of up to C$1.6 billion in Toronto-founded AI company Cohere. The investment will be made in stages, while Cohere has committed to investing at least C$1.7 billion in additional Canadian computing infrastructure and creating at least 1,000 high-paying technical jobs by 2030. The announcement strengthens Canada’s strategy to develop domestic AI capabilities and secure digital infrastructure. HPC can support public institutions with AI infrastructure planning, policy analytics, secure cloud platforms and advanced data processing.