Ottawa buys stake in Cohere at $35.7B valuation, sparking taxpayer-money debate
nikvassev · x · 2026-10-30
Per The Globe and Mail, Canada's federal government took a stake in Cohere in its latest funding round, valuing the AI company at $35.7 billion. The author questions why every successful industry now needs a federal investor, noting the Prime Minister's former investment firm has direct financial ties to the sector and calling for full disclosure. He warns government ownership creates incentives to protect the company with policy, contracts and regulation, forcing competitors to face the state — and argues Cohere already attracts billions in private capital, so governments should build conditions for growth rather than pick winners.
Related event: Canada Takes Stake in Cohere, Drawing Criticism Over State-Backed AI Bets(6 posts)→
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