Canada's Sovereign AI Push with Telus (T/TU)
https://www.cbc.ca/news/canada/british-columbia/b-c-ai-data-centre-plan-vancouver-kamloops-9.7195426 https://www.benzinga.com/markets/equities/26/05/52717839/whats-going-on-with-telus-stock-today ? https://www.cbc.ca/news/business/bakx-canada-sovereign-ai-9.7198649 https://ca.finance.yahoo.com/news/down-11-4-4-weeks-133501184.html With the current boom of AI, the Canadian side of it such as Telus (T:TSX TU:NYSE) is not getting much news. It's one of Canada's big 3 telecoms with over 30% market share across Canada, consistent dividends with their revenue finally increasing after the last interest rate hike, and has announced plans to build/expand their AI infrastructure at 3 sites in BC with backing from the provincial and federal governments. The Canadian federal government has not been shy since Mark Carney took over in their plans to have more sovereign projects with how soured trade relations have been with the States the last year. They've fast-tracking LNG export facilities for service to Asia, approved large mining sector expansions, and increased AI initiatives. And according to the CBC, Telus is the first successful applicant for the federal data center program, a program that has 925 million earmarked in the federal budget over the next 5 years for large-scale AI infrastructure. Telus's stock is the lowest entry point in a decade, has diversified from being a purely telecoms / internet provider to 20% of their income now coming from the health, security, and agriculture sectors, and now has government backing for expanding their AI data centers. Might not be a get rich quick move, but rather a long-term position with shares at ~14.50CAD/~10USD right now. It isn't going away because it's entrenched as part of the tri-opoly in Canadian telecoms, and has been reportedly oversold with Yahoo Finance now projecting a 1y price of 16.67USD. I personally have nearly 7% of my portfolio in Canadian telecoms as I've been reinvesting my dividends. Am I maple regarded? We'll see I suppose. submitted by /u/BakesaleAtSyrinx [link] [comments]