Story
Open Text Stock Gains as Investors Cheer Strategic AI Deal with Cohere
Open Text (OTEX) shares gained nearly 1.9% to reach C$32.13 in Thursday's trading, buoyed by continued positive investor sentiment from a high-profile artificial intelligence partnership with Cohere announced earlier this week.
Strategic AI Partnership
The two companies revealed at the ALL IN AI conference in Montreal that they will combine OpenText’s enterprise data management with Cohere’s agentic AI platform. According to the announcement, the collaboration is designed to help governments and regulated industries accelerate the deployment of agentic AI from pilot programs to full-scale production.
The partnership is comprehensive and includes several key commercial components:
- Joint product development and integration of Cohere's models into OpenText’s Aviator AI agents.
- Coordinated go-to-market execution.
- A strategic reseller arrangement through SOLEX for both on-premises and cloud solutions.
Ad"Data is not the supporting act; it is what gives agentic AI the context it needs to perform," stated CEO Ayman Antoun, positioning Open Text as a foundational component in the enterprise AI ecosystem.
Market Context and Financials
The stock's advance was also supported by a constructive broader market, with North American technology indices posting solid gains. This risk-on environment provided a favorable backdrop for the Canadian software firm.
Investor confidence is underpinned by the company's recent financial performance. In its full-year 2026 results reported in August, Open Text posted an Adjusted EBITDA margin of 36.3% and record capital returns of $677 million. While the stock is trading well above its 52-week low of C$27.63, it remains significantly below its 52-week high of C$56.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.