Artificial Intelligence (AI) is the future, and there is no denying it. While debates continue over the risks and ethics of advanced AI, countries worldwide are racing to build sovereign AI infrastructure to gain a technological edge. Canada is no exception, with several companies leading the charge in building the backbone of the AI revolution.
Canadian Companies Building AI Infrastructure
Canada’s AI infrastructure push is supported by major players across industries:
- BCE (TSX:BCE): Cloud and communications powering Bell’s AI fabric.
- Capital Power (TSX:CPX): Energy solutions for hyperscalers driving AI demand.
- Celestica (TSX:CLS): Ethernet switches and storage solutions for AI workloads.
- Bird Construction (TSX:BDT): Building data centres and power plants for AI expansion
Source: Getty Images
BCE’s AI Fabric
BCE is building the Bell AI fabric, which is the sovereign AI infrastructure as it transitions from telco to techno company. The telco is entering the fast-growing businesses of cybersecurity and full-stack sovereign AI platforms, and integrating with AI automation platforms. It is also making acquisitions to bolster its AI capabilities. While AI is still a small portion of its revenue, it is the fastest-growing segment and is driving BCE’s share price, which has jumped 13% since December 23, 2025.
Capital Power
This stock has jumped 60% since the AI boom in November 2023. Driving this rally is growing energy demand from hyperscalers. Capital Power sees strong demand for natural-gas-fired power plants as they are faster to build and are cost-efficient for customers. The company acquires, optimizes, and upgrades power plants. It has a strong 25-gigawatt project pipeline, which also comprises plants for AI data centres.
Celestica’s AI boom
Celestica is the poster child of the AI infrastructure rally. It manufactures electronic equipment for various industries. However, its Connectivity and Cloud Solutions (CCS) segment is seeing massive growth due to demand for Ethernet switches and other networking systems used in AI. It expects 50% revenue growth in CCS in 2026 and is likely to beat its own guidance, as it has been doing in the last two years.
Celestica’s stock has surged more than 1,100% between November 2023 and November 2025. It corrected 18% amidst rising trade tensions and the Iran war. This is a good time to buy the stock while it trades below $400, offering investors a chance to invest in AI before it potentially retests its $512 high.
Bird Construction
Canada’s infrastructure push has boosted Bird Construction’s order book. The company is involved in several building and infrastructure projects, including power plants and data centre buildings. It sees a $15 billion addressable market for data centre buildings. The stock has surged 82% since the April 2025 dip from the US tariffs. Every dip is a buying opportunity as Bird has an $11.1 billion order book to meet. Every new jump will come from a new order win, driving the stock up for the next five years as projects come online.
Why these AI companies matter
AI infrastructure is becoming as essential as airline, telecommunication, financial, and healthcare infrastructure. Every country has a national carrier, telco, and a bank, as dependency in these areas can paralyze the country in emergencies. AI can improve the efficiency, agility, and resilience of any system.
In the AI race, AI infrastructure companies stand to benefit from capital investment. For investors, following the capital flow into AI infrastructure companies can unlock strong returns in the years ahead.
