Carney ties Cohere investment to Canadian control of AI
The prime minister announces $1.6 billion in commercial investment, then faces questions about data storage, European partnerships and sovereignty.
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Carney makes announcement about AI and digital sovereignty
Things we can learn from the video
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- 1:53Carney announces a $1.6 billion commercial investment in Cohere alongside private investors.
- 6:56He identifies energy, capital, computing capacity, talent and values as requirements for developing AI.
- 12:12Gomez presents Cohere's funding round as a choice to build Canadian capacity rather than rent technology.
- 17:35Carney says practical cooperation matters more than the proposed Canada-EU alliance's name.
- 21:14Asked about data storage and European AI rules, Carney discusses forthcoming legislation prioritizing trust.
- 28:36Carney identifies sovereignty, cultural preservation and the French language as trade negotiating red lines.
Canada should build more of its own artificial intelligence capacity rather than depend on technology controlled elsewhere, Prime Minister Mark Carney argues as he announces a $1.6 billion federal investment in Cohere.
In footage carried by Canada's Canadian Broadcasting Corporation (CBC) News, Carney says the government is investing commercially alongside private investors including Nvidia, Bell and Germany's Schwarz Group. He presents the deal as part of a broader effort to strengthen Canadian autonomy through domestic technology and international partnerships.
Cohere develops large language models and AI products for businesses, regulated industries and the public sector. Its co-founder and chief executive, Aidan Gomez, joins Carney at the podium and describes the financing round as the largest private capital raise by a technology company in Canadian history. That is Gomez's characterization of the round, not simply the size of Ottawa's contribution.
"We are choosing to build rather than rent from someone else," Gomez says.
Carney identifies five ingredients for AI development: energy, capital, computing capacity, talent and values. "Canada has the energy, the brains, the values. Today, we're bringing the capital," he says. He also outlines affordability, sovereign control of data and public safety standards as important elements of the agreement.
The questions afterward test how that sovereignty would work. A reporter asks about Cohere's data storage in Beijing and alignment with the European Union's AI Act. Carney responds by discussing forthcoming legislation centered on trust; the question itself does not establish where the company's data is stored.
Asked about the proposed Canada-EU alliance and the language of associate membership, Carney emphasizes practical cooperation over its label: "This new alliance is not a marketing exercise. The name doesn't matter." He argues that reliable partnerships can reinforce independence despite changes in governments and political movements.
Other questions bring the discussion back to relations with Washington and Quebec. Carney says greater Canadian self-reliance would benefit bilateral relationships, including with the United States. Asked about trade negotiating red lines, he names sovereignty, cultural preservation and the French language. He also affirms recognition of the Québécois as a nation and describes collaboration with Quebec representatives.
The briefing closes with questions about corporate commitments surrounding Cleveland-Cliffs' acquisition of Stelco, auto trade and a reported planned resignation by Christine Lagarde. On Stelco, Carney stresses that Cleveland-Cliffs must respect the obligations it accepted.
Canada’s prime minister and Liberal Party leader since 2025. He previously led the Bank of Canada and the Bank of England.
More on Wikipedia ›A Canadian AI company headquartered in Toronto that develops large language models and AI products for businesses, regulated industries and the public sector.
More on Wikipedia ›A British-Canadian computer scientist specializing in artificial intelligence and natural language processing. He is Cohere’s co-founder and chief executive.
More on Wikipedia ›President of the European Central Bank since 2019. A French politician and lawyer, she previously led the International Monetary Fund.
More on Wikipedia ›Published on Trari
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- CBC News
- Subscribers
- 4,780,000
- Channel views, last 7 days
- 13,203,235
- Channel views, pace per day
- 1,873,213 (on a normal day: 2,302,960)
- Video published
- October 29, 2026
- Video views so far
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- Video views, pace per day
- 140,435
The numbers
The announcement drew about 72,000 views since yesterday, making it one of Canada's most watched new news videos.
💡 Test your knowledge
Which chip company does Carney name among the private investors alongside Canada's government?
Carney names Nvidia alongside Bell and Germany's Schwarz Group.