Cohere Is Raising $2-3B at a $20B Valuation With Both Canadian and German Government Money in the Round
The Globe and Mail·high signal
The Globe and Mail reports Cohere is in advanced talks for $2 to $3 billion at a $20 billion valuation, up from $6.8 billion when it raised $500 million in August 2025, and the German government is also in talks to participate alongside Canada's. It would be the largest round ever raised by a private Canadian startup and could close within a week. Two sovereign governments taking positions in the same private round is the clearest signal yet that sovereign AI has moved from procurement to equity.