Cohere Inc., an AI startup with offices in Toronto and San Francisco, has partnered with CoreWeave Inc. to develop a state-of-the-art AI data centre in Canada. The project, estimated to be worth several billion dollars, will be backed by the Canadian government through its $2 billion Sovereign AI Compute Strategy, which includes up to $240 million in financial support.
While the location of the new data centre has not yet been revealed, CoreWeave will oversee its construction. Cohere plans to make a significant investment to ensure the facility can support its own AI model training while also providing capacity for other companies in the AI sector.
Innovation Minister François-Philippe Champagne praised the project as a win for Canadian policy, emphasizing that such investments play a key role in building the country’s infrastructure and technology leadership.
Founded in 2019 by Aidan Gomez, Nick Frosst, and Ivan Zhang, Cohere has rapidly grown into one of the leading AI companies, valued at over $5.5 billion. Backed by major investors including Nvidia, Oracle, and Cisco, the company has raised $970 million to date and now employs around 400 people.
Initially focused on large language models for text generation, Cohere has shifted its focus to creating customized, secure AI models. In March 2024, the company reported a significant revenue boost, reaching $35 million in annualized revenue, up from $13 million at the end of 2023.
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