Canadian AI startup Cohere is in advanced talks to raise between $2 billion and $3 billion at a $20 billion valuation, according to a September 11, 2026 report, with the round potentially closing within the week. If finalized at the reported terms, it would be the largest funding round ever raised by a private Canadian startup. Cohere’s valuation has grown from $6.8 billion in August 2025, which the company attributes to strong investor demand for its enterprise-focused, sovereign AI offerings aimed at organizations handling sensitive data.
