Canada Pension Plan Investment Board and La Caisse have reportedly shelved their private equity sale plans after prospective buyers offered prices below their expectations, highlighting the gap between sellers’ valuations and investor appetite for private market assets. (Bloomberg, The Logic)
The venture capital firm made the investment out of its near-US$800-million growth fund. Other backers in the San Francisco-based startup’s Series B round include Nvidia; Silicon Valley funds Sequoia Capital and Benchmark; the venture arms of Adobe and Toyota; and Canadian AI researcher Andrej Karpathy. (The Logic)
Prime Minister Mark Carney said that the new federal office convened four federal departments over the past five months to co-ordinate with the Quebec government and secure both federal financing and new customer agreements for the mine, billed as the largest graphite mine in the G7. The deal includes a federal stockpiling agreement. (The Logic)
Through its subsidiary Buzz High Performance Computing, the Vancouver-founded bitcoin miner turned data-centre operator has spent $58 million assembling about 10 hectares of land between Toronto and Waterloo, Ont., and plans to spend $3.5 billion building a data centre on it to provide “sovereign AI infrastructure that turns Canadian intelligence into Canadian dominance” by the end of 2027. (The Logic)
The former National Bank CEO is the lead investor behind the majority Canadian-owned and -operated manufacturer of dual-use communications systems. Vachon, who served as National Bank CEO from 2007 to 2021, is Marconi’s non-executive board chairman. (The Logic)
The Canadian computer scientist announced that he will work on R&D at the AI firm. “I think the next few years at the frontier of [large language models] will be especially formative,” he said. (The Logic)
The mining company expects the Hope Bay project will take US$2.4 billion in capital investment but will yield more than 400,000 ounces of gold a year once it’s fully running. The federal government is kicking in $25 million for an Inuit-led wind farm to supply 4.2 megawatts of power (a new diesel power plant is to produce another 37 megawatts), and has an agreement with Agnico Eagle for the Department of National Defence to learn about building arctic infrastructure. (The Logic)
The Santa Clara, Calif.-headquartered chip startup has held talks with the two semiconductor giants as well as investment banks, sources told Bloomberg. Tenstorrent, Intel and Qualcomm declined to comment to the news outlet. (Bloomberg)
The year-over-year increase in the consumer price index was the largest since May 2024, according to Statistics Canada. Excluding gasoline, the index was two per cent higher. (The Logic)
The U.S. asset management giant invested in the Sherbrooke, Que.-based quantum computing firm in March, as part of what could be the start of a larger round, sources told The Globe and Mail. Nord Quantique did not respond to The Logic’s request for comment. (The Globe and Mail, The Logic)