Amazon announced a significant, multi-year investment in a Toronto-based artificial intelligence startup, expanding its AI research and development presence in Canada. The deal is expected to strengthen Amazon’s machine learning capabilities and add AI-driven features to its cloud computing and e-commerce platforms.
The companies did not disclose financial terms. Amazon’s announcement drew a positive initial reaction in pre-market trading.
Analysts say the investment could help Amazon tap Canada’s growing pool of AI talent as other technology companies also increase investment in the region. The partnership is expected to focus on next-generation logistics and automation technologies.