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The Toronto-based AI company said it plans to spend more than $4 billion on Canadian research and development and AI infrastructure between 2024 and 2031, and add more than 1,500 Canadian jobs by the end of that period. Roughly 1,000 would be technical positions. It also plans to offer more than 250 paid student roles by 2029. (The Logic)
Talking point: The details follow Ottawa’s pledge Thursday to invest up to $1.6 billion in Cohere’s latest funding round, for which the company is seeking to raise $7 billion at a $35.7-billion valuation. Cohere spokesperson Patrick Allen told The Logic today’s figures combine growth plans underway since 2024 with commitments tied to the federal investment. The company did not specify how much additional hiring or spending the totals represent. Yesterday, Ottawa said its investment came with commitments for at least 1,000 new Canadian technical jobs and $1.7 billion more in domestic computing infrastructure by 2030. Cohere will remain headquartered in Canada as part of the deal.
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