The Buzz: Ottawa backs Cohere, Arrow expands managed storage, and 7AI builds its security ecosystem
Today’s headline news for Canadian IT solution providers:
Ottawa commits up to $1.6 billion to Canadian AI developer Cohere
The federal government is taking an equity stake in Toronto-founded artificial intelligence company Cohere, committing up to $1.6 billion as part of a major new funding round.
Announced Thursday, the investment will be made in stages and comes alongside private investors including NVIDIA, Bell and Germany’s Schwarz Group.
Cohere has committed to maintaining its Canadian headquarters and incorporation, creating at least 1,000 Canadian technical jobs, and…
The skinny
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