Toronto-based AI firm Cohere will build a multibillion-dollar data centre in Canada, bolstered by up to $240 million in federal funding. The investment marks the first allocation from Canada’s $700-million AI infrastructure fund, part of its $2-billion Sovereign AI Compute Strategy. Expected to go live in 2025, the data centre will support Cohere and other Canadian tech firms.
CoreWeave, a U.S.-based cloud computing startup valued at US$11.5 billion, will construct the facility. Cohere, Canada’s leading AI company with a valuation exceeding US$5.5 billion, is backed by notable investors like Nvidia, Oracle, and Inovia Capital.
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