Canada invests C$1.6B in AI and Cohere starts a funding round

Carney said on Thursday that Canada makes a commercial investment of C$1.6B in AI. Private investors that include Nvidia, Bell and Schwarz Group of Germany make the investment with Canada. On the same day, Cohere, an AI company, announced the initial close of its Series E funding round. The funding round aims for a maximum of C$7 billion at a value of C$35.7 billion. Aidan Gomez, the CEO of Cohere, joined Carney.

What was announced

Carney listed AI with semiconductors, critical minerals, vaccines and clean energy technology as things that sovereignty must have. Von der Leyen cited the April merger of Cohere and the German company Aleph Alpha. She called it a primary part of Canada and EU cooperation.

The numbers

The government investment is C$1.6B. The Series E funding round aims for a maximum of C$7 billion at a value of C$35.7 billion. Only the initial close is announced.

What is not known

No quantity that has closed is given. No division of the C$1.6B between the government and the private investors is given. Von der Leyen said Canada and Europe will make rules and standards for safe AI together. Talks on AI are set for Friday.

Insight: Nvidia is in several sovereign AI plans

Nvidia is with Canada in the group of investors in this deal. In October 2026 the European Broadcasting Union also widened its sovereign AI standards with Nvidia. Sovereign is the control of data, systems and models by the user. Nvidia is in the two plans, and it seems to be in a good position if sovereignty grows. Leaders who buy sovereign AI must find out which parts use one semiconductor supplier.