Key facts
- Canada is investing C$1.6 billion in artificial intelligence company Cohere.
- The investment is framed as a national security imperative.
- Cohere is seeking up to C$7 billion in its Series E funding round.
- The Canada-EU summit will focus on AI safety and global governance.
Prime Minister Mark Carney announced that Canada is investing C$1.6 billion in Cohere, an artificial intelligence company, framing the move as essential for national security. The announcement was made in Montreal on Thursday, October 29, 2026, ahead of the Canada-EU summit. Carney stated that secure access to technologies like AI is crucial for national sovereignty. European Commission President Ursula von der Leyen highlighted the deepening Canada-EU cooperation on AI, referencing Cohere's merger with German counterpart Aleph Alpha. Cohere's CEO, Aidan Gomez, announced the company's Series E funding round, which aims to raise up to C$7 billion at a C$35.7 billion valuation.