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News of the day: Anthropic’s IPO windfall, Whitecap banks cash, Ottawa invests in Cohere, FINTRAC failing, Meta promises consultations and more

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Co-founder of US artificial intelligence (AI) company Anthropic, Christopher Olah, attends the presentation of Pope Leo XIV first Encyclical Letter Since co-founding Anthropic in 2021, Christopher Olah has served as its interpretability research lead, tackling the technical questions of why its AI models act the way they do. Photo by Alberto PIZZOLI/AFP via Getty Images

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It’s Thursday, Oct. 29. Here are the top stories we’re following today.

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Among Anthropic PBC’s seven co-founders set to reap a multibillion-dollar windfall as it goes public is Canadian Christopher Olah, a machine learning researcher who got his start working for and then dropping out of the University of Toronto, alongside a couple of early stints at Environment Canada and an Ottawa tech company.

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A view of the entrance to the water and oil storage facility at the Whitecap Resources Weyburn Unit Plant south of Weyburn, Saskatchewan on Sept. 7, 2021. A view of the entrance to the water and oil storage facility at the Whitecap Resources Weyburn Unit Plant south of Weyburn, Saskatchewan on Sept. 7, 2021. Photo by BRANDON HARDER/ Regina Leader-Post

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Whitecap Resources Inc. is making more money than it plans to spend — and for now is happy to let the surplus build, rather than spend more on growth projects.

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Prime Minister Mark Carney announces a federal investment of up to $1.6 billion in artificial intelligence company Cohere in Montreal on Oct. 29, 2026. Prime Minister Mark Carney announces a federal investment of up to $1.6 billion in artificial intelligence company Cohere in Montreal on Oct. 29, 2026. Photo by Alexis Aubin/AFP via Getty Images

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The federal government says it will invest up to $1.6 billion in Canadian artificial intelligence startup Cohere Inc. as part of the company’s planned $7-billion fundraising round, which is the largest-ever private capital raise in Canada.

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money Between $45 billion and $113 billion gets laundered through Canada each year, according to a Criminal Intelligence Service Canada estimate in 2020. Photo by Getty Images

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Canada’s auditor general says the federal government’s primary financial intelligence unit is not effectively carrying out its duties to limit money laundering in the country.

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The Meta Platforms Inc. headquarters in Menlo Park, California. The Meta Platforms Inc. headquarters in Menlo Park, California. Photo by David Paul Morris/Bloomberg files

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Meta Platforms Inc. pledged on Wednesday to consult news industry groups before finalizing new terms of service that have sparked a backlash among publishers concerned the tech company could use their content to train its artificial intelligence models.

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