According to Ottawa, funds will be released in stages, with progress reports on company commitments: at least 1,000 new technical jobs in Canada and C$1.7 billion in additional computing infrastructure by 2030, alongside continued Canadian headquarters and incorporation.
Cohere separately announces an initial close of a funding round targeting up to C$7 billion, led by Schwarz Group. The company indicates a prospective C$35.7 billion valuation in that context. The amount already committed is undisclosed, according to Bloomberg reporting cited by The Next Web: the C$7 billion target should therefore not be presented as fully raised.