Canada and the EU announced strategic agreements, backed by EIB financing, to boost AI and critical mineral projects.

The entities involved

• Cohere →

  Canadian artificial intelligence company building foundational models

  • Cohere established a Defence AI Accelerator in Singapore.07:53
  • Ottawa authorized federal investment in Cohere, naming it the champion of the national AI strategy, with Nvidia as a key technology supplier.04:25
• Aleph Alpha →

  German artificial intelligence company

  • Canadian government drives international AI strategy and forms partnerships with companies like Cohere and Aleph Alpha to expand into Europe.Fri 19:06
  • Cohere announced a merger with Aleph Alpha, backed by a $1.6 billion government investment to anchor the partnership in Germany.Thu 18:08
• European Investment Bank →

  body of the European Union providing funding for projects fostering EU aims, both within and outside the EU

  • Scatec is building the Dandara power plant in Egypt, with financing provided by AfDB and EIB, and NBE holding a 20% stake.09:16
  • The European Investment Bank and parliament are finalizing a joint deal to purchase 50 water bombers.Mon 20:28

Related events

• Canada and Europe formed a new alliance, while Cohere planned a merger with Aleph Alpha, and Musk's Starlink disrupted Ukrainian operations.Fri 20:55
• Canada invests in Cohere while positioning itself and the EU outside the US-China axis.Fri 19:06
• CDIC negotiated equity funding for Cohere, with Mark Carney announcing the investment in Montréal.Fri 03:02
• The Government of Canada and the European Investment Bank signed a Framework Agreement for investment at the EU-Canada Summit in Montréal.Fri 18:20
• The European Investment Bank launched a strategic alliance covering AI and minerals, supporting Canadian critical minerals and EU Ukraine loans using Galileo.Fri 22:40