Top Canadian Artificial Intelligence Stocks for 2026 

With stocks like Nvidia (Nasdaq:NVDA) posting moonshot growth over the past year, Canadian investors are no doubt wondering — should I be investing in “AI stocks?”

Some may be wondering what that even means.

It’s easy to lose sight of this in all the buzz, but artificial intelligence (AI) stocks are simply tech companies that are making incredibly smart machines. Whether it’s using face recognition to unlock your phone or “auto-correcting” your grammatical errors, artificial intelligence has already infiltrated our daily lives. 

And the technology is only getting started: The worldwide AI market is forecasted to grow immensely before the end of this decade. PWC sees AI technology contributing up to $15.7 trillion to the global economy by 2030.¹ 

So if you believe artificial intelligence will play a growing role in our lives, investing in AI stocks could be a smart way to benefit from that prediction.

Here, we’ll break down the ins and outs of AI investing in Canada to help you decide if it’s the right investment for you in 2026.

The basics: What are artificial intelligence (AI) stocks??

Artificial intelligence (AI) is a branch of computer science tasked with making machines that emulate human intelligence. These machines make decisions without human interference, and they can learn from past experiences to make better decisions in the future. 

Generally speaking, AI stocks can be broken down into two groups

Companies that make AI

These are tech companies that manufacture and sell hardware, software, and services which make AI possible. They’re also leaders in researching and developing new forms of AI. For example, the AI company C3.ai (NYSE:AI) makes AI software that other companies can buy and use. 

Companies that use AI

These are also tech companies, usually large-caps, that refashion and repurpose AI technology for their own business interests. They might have their own separate AI labs, or buy AI platforms from the companies mentioned above. Amazon (NASDAQ:AMZN), Alphabet (NASDAQ: GOOG), and Netflix (NASDAQ: NFLX) are all companies that fall into this category. 

Both kinds of companies are considered AI stocks, though strictly speaking, only the first is a true AI company. 

Are there any AI stocks in Canada?

Yes! Although the U.S.-listed stocks seem to be getting all the attention, Canada has its fair share of AI stocks. Here are some to consider – they’re all established companies that trade on the Toronto Stock Exchange (TSX):

• BlackBerry (TSX:BB)
• Celestica (TSX:CLS)
• CGI Group (TSX:GIB.A)
• Coveo (TSX:CVO)
• Docebo (TSX:DCBO)
• Lightspeed Commerce (TSX:LSPD)
• Kinaxis (TSX:KSX)
• Open Text (TSX:OTEX)
• Telus (TSX:T)

This list of Canadian AI stocks to invest in will no doubt evolve as the technology continues to grow at a furious pace. Already, there are dozens of startups that could one day hit the public markets.

Related: List of stocks in the Canadian (TSX) information technology sector

4 Top Canadian AI stocks to watch

For now, let’s look at a few of the top artificial intelligence companies already trading on the Toronto Stock Exchange.

1. Kinaxis  

Kinaxis (TSX:KXS) remains one of the most compelling Canadian names at the intersection of SaaS (software-as-a-service) and AI, offering mission-critical supply chain management tools that global enterprises rely on daily. Its RapidResponse platform enables real-time simulation, planning, and problem detection across complex logistics networks – capabilities that became indispensable during the pandemic and remain essential amid ongoing supply disruptions and the shift toward AI-driven efficiency. While the stock doesn’t pay a dividend, its value proposition lies squarely in growth, recurring revenue, and long-term compounding.

The company continues to post strong momentum though 2025. In its most recent quarter, SaaS recurring revenue grew more than 17%, supporting a broader trend of consistent double-digit annual revenue gains. Net profit jumped 150% year over year, highlighting the scalability of its model. Despite these results, the share price has remained in a relatively tight range, suggesting the market hasn’t yet fully recognized the company’s strength.

What sets Kinaxis apart is the “stickiness” of its customer base. With blue-chip clients in sectors like automotive, healthcare, and consumer goods, multi-year contracts and mission-critical integrations create a high barrier to switching. This stability fuels predictable subscription income, strong gross margins, and a healthy flow of cash that Kinaxis uses to reinvest in innovation rather than risky expansion. The company also maintains a debt-free balance sheet, an advantage few tech peers can claim.

With enterprise demand rising for AI-enhanced planning tools this year, and financial performance strengthening quarter after quarter, Kinaxis looks well positioned for a breakout if sentiment shifts. For investors seeking high-quality, profitable tech exposure into 2026, this remains a standout candidate.

2. Celestica

Celestica (TSX:CLS) has emerged as one of Canada’s most explosive growth stories in 2025, powered by its deep exposure to AI data-center hardware and hyperscaler infrastructure. Once known primarily as a contract manufacturer, the company has transformed into a central supplier for next-generation compute and cloud systems. That shift has unlocked extraordinary shareholder returns: Celestica is up more than 350% over the past year and nearly 3,000% since late 2022, making it the best-performing large-cap tech stock in the country.

Momentum remains strong this year. In Q3 2025, Celestica delivered 28% revenue growth, a record operating margin, and rising contributions from hyperscaler clients—its most important growth engine as AI/ML compute demand accelerates. With cloud providers racing to expand capacity for high-performance servers, networking gear, and storage systems, Celestica has secured a multiyear runway of orders tied directly to the global AI buildout. Analysts now expect the company’s earnings to more than double by 2028, reflecting both margin expansion and aggressive production scaling.

Celestica’s positioning within the AI hardware stack is what sets it apart. The company supplies critical components needed for AI workloads, training clusters, and massive cloud deployments, making it a direct beneficiary of capex cycles led by Meta, Microsoft, Alphabet, Amazon, and other hyperscalers. Demand for compute and storage capacity continues to climb sharply in 2025 as AI rollouts intensify, driving consistently strong backlogs and repeated quarterly earnings beats.

For investors who believe AI infrastructure will remain one of the market’s most powerful tailwinds for years to come, Celestica stands out as a momentum-driven, high-conviction option. With analysts projecting a further 46% upside over the next 30 months and demand from hyperscalers unlikely to slow, the stock remains one of the clearest Canadian ways to participate directly in the AI hardware boom.

3. OpenText

OpenText (TSX:OTEX) is one of the more intriguing value opportunities in Canadian tech heading into 2025, with its transformation efforts now gaining traction after several reset years. The Waterloo-based enterprise software company focuses on information management, cybersecurity, and AI-enhanced cloud solutions. Its Aviator platform — which integrates generative AI, predictive analytics, and conversational search — has become central to its strategy as customers shift toward higher-margin cloud subscriptions.

After a difficult start to last year, OpenText has staged a meaningful rebound. Shares have climbed more than 40% over the past six months, boosted by improving financial execution and clearer integration progress following the Micro Focus acquisition. In the fourth quarter of fiscal 2025, revenue rose 4.5% sequentially to US$1.3 billion, while adjusted EBITDA jumped more than 12% to US$443.9 million. That pushed the EBITDA margin to 33.9%, up from 32.7% a year earlier. The stock offers a dividend yield near 2.8%, making it a rare total-return play within Canada’s AI sector.

A key driver of the recent rally has been OpenText’s strategic shift toward cloud and AI, supported by a multiyear effort to streamline operations. To reduce debt and concentrate capital on cloud innovation, the OpenText divested non-core assets including the AMC business in 2024 and just recently, eDOCS. With fresh guidance calling for 1–2% revenue growth in fiscal 2026, investors have taken the return to forward visibility as a sign that the balance-sheet cleanup and product consolidation are working.

Momentum into late 2025 remains strong, with the stock breaking above the $50 level for the first time since early 2024. For investors seeking a stable, cash-flow-rich way to participate in the rise of AI and enterprise cloud, OTEX stands out as a compelling, under-the-radar option.

4. Docebo   

Another SaaS company, Docebo (TSX:DCBO) remains one of the more compelling long-term growth stories in Canada’s tech sector, even if its recent share-price performance suggests otherwise. The stock has fallen sharply in 2025 pressured by leadership turnover, tougher competition, and a broader market debate around the profitability of AI-aligned software firms. That decline has pushed Docebo’s valuation down to appealing levels, with its forward earnings multiple now below 20. As a pure growth name, the company does not pay a dividend, so returns are entirely tied to business execution and share-price appreciation.

Operationally, the company continues to deliver. Docebo’s most recent quarterly report showed revenue up 11% to more than $61 million, ahead of expectations, with profitability rising more than 20% year over year. Earlier quarters also exceeded guidance, including second-quarter increases of 14.5% in revenue and 15.4% in adjusted EPS. Multi-year customer agreements help support revenue stability, even as the broader learning-software landscape becomes more competitive.

Docebo’s AI-driven learning platform remains well positioned in a global LMS market benefiting from rapid digital-training adoption. Its clients include major brands like Starbucks (NASDAQ: SBUX) and Thomas Reuters (TSX: TRI) and Amazon Web Services (AWS). Ongoing platform enhancements, expanding enterprise use cases, and consistent subscription momentum make this a name with meaningful long-term upside for investors who can handle near-term volatility—and who don’t require dividend income as part of their strategy.

How to invest in Nvidia and other AI stocks that trade in the U.S.

If you’re interested in owning some of the bigger names in AI investing, you’ll have to dip your toes in international waters – namely, the U.S.

Most brokerages allow you to easily buy U.S. stocks. Watch out for currency conversion fees, though. You’ll need U.S. dollars in your brokerage account to invest in U.S.-listed stocks, and most brokers will charge 1% to 2% of the amount you’re converting in order to switch your loonies to dollars. 

Here are some of the titans of AI investing – at least for today!

Related: How to buy Amazon stock in Canada (step by step)

Are AI stocks a good buy in 2026? 

The AI market has evolved from the “hype” phase of previous years into a period of massive commercial deployment. By the start of 2026, AI has become a fundamental driver of corporate earnings, with the Canadian AI market projected to surpass $40 billion (USD) in revenue this year.

While the sector offers immense growth, the investment landscape has become more discerning:

• From GenAI to Agentic AI: The trend has shifted toward “AI Agents” that autonomously execute business workflows, moving beyond simple chatbots to tangible productivity tools.
• Focus on ROI: Investors are now prioritizing “proven” AI—companies demonstrating clear margin improvements rather than just experimental technology.
• Infrastructure Dominance: Canadian players involved in the AI “backbone”—such as specialized hardware manufacturing and data management—continue to see the most consistent institutional inflows.

Navigating the Canadian Market

Canadian investors should remain cautious of micro-cap “pure-play” AI stocks, which often exhibit extreme volatility. Instead, the focus for 2026 is on companies with established competitive moats and proprietary data.

Canada’s AI landscape offers diverse opportunities beyond the global mega-caps. Conservative investors can look to blue-chip giants like CGI Inc. and OpenText, which provide stability by integrating AI into massive existing service contracts. Growth-focused investors may prefer specialized SaaS leaders like Kinaxis or Docebo, which are leveraging AI to dominate supply chain and e-learning niches. For high-reward infrastructure plays, Celestica remains a standout, benefiting from the global surge in demand for AI data center hardware.

The Bottom Line: AI stocks remain a strong buy for those with a long-term horizon. However, success in 2026 requires moving past the buzzwords to evaluate a company’s fundamental business model and its ability to turn AI integration into bottom-line profit.

Are there any AI ETFs in Canada?

If you don’t want to invest in individual AI stocks, you can always buy an AI-focused exchange-traded fund (ETF). ETFs are an easy way to invest in a bunch of companies at the same time, so you get more diversification and potentially take on less risk than you would by investing in any single stock.

Some AI ETFs in Canada to consider:

• Evolve Artificial Intelligence Fund (TSX:ARTI)
• Global X Artificial Intelligence & Technology Index ETF (TSX:AIGO)
• GLOBAL X SEMICONDUCTOR INDEX ETF (TSX:CHPS)
• GLOBAL X BIG DATA & HARDWARE INDEX ETF (TSX:HBGD)
• GLOBAL X ROBOTICS & AI INDEX ETF (TSX:RBOT)