The Chinese state-owned energy company is in the early stages of gauging interest in its 15 per cent stake. A sale would help finance the second phase of the liquefied natural gas export facility in Kitimat, B.C., which began shipping the product to Asia last year. (Bloomberg)
Export Development Canada, the federal Crown corporation that helps Canadian companies export and invest abroad, said it provided between $100-$200 million in financing for the Greenlight Electricity Centre, a natural-gas fired power plant being built northeast of Edmonton, Alta., to supply electricity to Meta’s planned one-gigawatt campus, agency spokesperson Zoé de Bellefeuille confirmed Monday. (The Logic)
As part of the agreement, chipmaker Nvidia will contribute US$1 billion to expand South Korean internet company Naver’s GAK Sejong hyperscale data centre. The companies aim to expand the facility from 55 to 200 megawatts by 2028, with Naver eventually targeting one gigawatt of AI infrastructure. (The Logic)
Mark Beehler, superintendent of New York’s Salamanca City Central School District, confirmed in an email that its high school has paused plans to bring Sally, a US$58,000 robot designed to help students with school work, into the classroom. Parents and the teachers’ union had raised concerns about privacy, as well as Realbotix’s connection to Intima, a subsidiary that makes sex dolls and adult AI products. (The Logic, The New York Times)
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi said Friday there has been “very positive progress and negotiation and discussion” about the Gulf country’s sovereign wealth funds investing in Canadian projects. He and Canada’s International Trade Minister Maninder Sidhu were in Toronto to announce both countries had wrapped talks for a trade deal. (The Globe and Mail)
The asset management giant is committing US$500 million to the investment vehicle, while Saudi Arabia’s wealth fund, the Public Investment Fund, will contribute the rest alongside other regional and global partners. (Bloomberg)
Under the deal, the AI startup will get access to Nvidia’s newest AI infrastructure, increasing its compute capacity “by an order of magnitude.” Nvidia has also made a financial investment, which sources told Bloomberg is worth US$5 billion. Neither side disclosed the amount of capital or number of chips involved. (The Logic, Bloomberg)
Open-weight systems—which users can download, modify and run themselves—let both the private and public sectors use AI more cheaply and efficiently, and give users more control over the technology, backers said in a letter published Friday. So far, 77 technology companies, investors and foundations have signed, including Cohere, Google, Meta, Microsoft, Nvidia and OpenAI. (The Logic)
Investors in the Spanish firm’s Series C round included National Bank’s NAventures, as well as venture units of major European firms BNP Paribas, Orange and Scania. The financing values Multiverse at US$1.7 billion before the new capital. (The Logic)
The initial public offering price of $6.90 is in line with what the miner expected when it started its road show earlier in the week, but the total offering size is larger than the $363 million it originally forecast. On its first trading day, shares rose as much as 3.6 per cent above the list price, but were nearly flat by Friday afternoon. Mining magnate Pierre Lassonde is the board chair at the company, which is exploring for deposits in Ontario and Quebec around a historical mining site. (The Logic)