Lately it seems like data centre stocks have become one of the most popular options for investors to consider. Fortunately for Canadian investors, there are a few ways to buy into that growing sector through several different businesses.
Some of those companies supply the hardware within the buildings, whereas others provide the infrastructure and electrical equipment.
Here’s a look at the top three data centre stocks that I would consider buying right now.
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No. 3: Brookfield Infrastructure
The first of three data centre stocks to consider is Brookfield Infrastructure Corporation (TSX: BIPC). Brookfield is a unique pick that adds data centre exposure within a larger infrastructure portfolio.
Brookfield Infrastructure owns a global portfolio of businesses that includes utilities, transportation, midstream, and data. That diversification provides some defensive appeal when investing in a high-growth, volatile sector such as data centres.
Brookfield ranks third here because data centres represent only part of what shareholders own.
The company’s data centre businesses include facilities that are built for large cloud providers and colocation sites. These sites often house computing equipment for multiple customers.
In short, the facilities provide the physical space, power and cooling needed to keep that equipment operating. This gives Brookfield exposure to both developing new facilities and operating existing ones.
In the most recent quarterly update, the data segment generated US$154 million in funds from operations (FFO) during the second quarter of 2026. That represents a 36% uptick over the same period last year.
That growth included contributions from fibre infrastructure and semiconductor foundries, alongside data centre developers.
Prospective investors should also note that Brookfield pays a quarterly dividend, with a yield of 5 as of the time of writing.
No. 2: Hammond Power
Next on the list is Hammond Power Solutions (TSX: HPS.A). Hammond provides a more indirect way of investing in data centres through the electrical equipment required to support data centre construction.
Hammond manufactures dry-type transformers and power-quality products. The company noted that data centre investment is one of the key drivers of U.S. demand in the most recent quarterly report, alongside power infrastructure spending.
Specifically, Hammond’s equipment supports the path from the incoming power supply to the systems serving computing equipment. It puts the company in an advantageous position as developers continue to build additional facilities.
In the most recent quarter, sales increased 44.7% to $325 million, while the backlog finished 96.9% above where it was in the same period last year. Gross margin also improved to 31.5%.
Like Brookfield, Hammond offers investors a dividend, but the company’s 0.49% yield makes it less appealing as an income stock.
No. 1: Celestica
Taking the top spot among data centre stocks is Celestica (TSX: CLS). For those unfamiliar with the stock, Celestica supplies critical hardware infrastructure for AI and cloud computing.
Celestica’s products include servers, storage systems and networking switches that direct traffic between connected devices. The company’s customers include large cloud providers and other businesses building infrastructure for AI and cloud services.
The company’s latest earnings update provides the strongest reason to buy right now.
In the most recent quarter, Celestica reported revenue of US$5.8 billion, and adjusted earnings of US$3.30 per share. Both numbers came in above the high end of guidance.
Turning to 2027, Celestica is forecasting strong growth. Management is calling for US$40 billion in revenue, which represents 90% revenue growth. The company is also calling for adjusted earnings of US$21.50 per share in 2027, an 86% increase over its full-year 2026 adjusted earnings forecast.
Celestica expects capital expenditures of US$1.5 billion to US$2 billion in 2027.
Are you buying these data centre stocks?
No stock is without risk, and that includes the trio of data centre stocks mentioned above. Fortunately, each of the stocks offers some diversification outside of data centre investments.
