Canada to take equity stake in AI firm
Canada is investing up to $1.1 billion in a Toronto-based AI startup, as Washington’s allies work to reduce their technological reliance on the US.
Canada has announced its intention to take an equity stake of up to $1.1 billion in a Toronto-based AI startup, as the country and its allies seek to reduce their technological dependence on the United States. This move aligns with the United Kingdom's recent announcement of a $80 billion sovereign AI fund aimed at bolstering domestic firms within Europe's leading tech sector.
The UK's finance minister has pledged to pursue a "distinctively British approach to AI," signaling a growing international trend towards investing in AI research and development. The UK's initiative also includes a $160 million investment in a government lab dedicated to testing frontier AI models, a move that is roughly ten times the annual budget of its U.S. counterpart, despite significant support for government safety testing among American voters in swing states.
Brief written by urgent.news from Semafor's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
