Cohere reportedly seeks up to $3 billion with Canadian government participation

Cohere, the Canadian AI company focused on business and government users, is in advanced discussions to raise $2 billion to $3 billion, according to a Globe and Mail report cited by Bloomberg. The round could value the company at about $20 billion and include the Canadian government alongside current backers, though the terms could still change or the deal may not close. Rather than building a consumer chatbot brand, Cohere sells AI tools designed to give organizations tighter control over sensitive data—a priority for regulated businesses and public agencies. If completed, the financing would give Cohere more capital to compete in the AI market.