The year 2026 started on a mixed note. On one side, hyperscalers have committed US$700 billion in artificial intelligence (AI) spending in 2026. On the other hand, the U.S. President is escalating tensions in oil-rich countries to secure more oil supplies in US dollars while threatening the renewal of the United States‑Mexico‑Canada Agreement on July 1. Meanwhile, Canada is pushing investments in energy, logistics, and housing infrastructure projects.

Amid these global shifts, investors can find opportunities. Here are the only three stocks to buy in March 2026.

The AI stock to buy in March 2026: Micron Technology

Most AI stocks have surged to high valuations on the back of massive AI spending. NVIDIA, Broadcom, and other chip stocks saw a rapid surge in their revenue and profits driven by demand from  AI data centres. But one stock picked up momentum last year. Micron Technology (NASDAQ:MU) stock surged fourfold in a year.

Data centres need high bandwidth memory (HBM) chips, manufactured by only three companies: Micron, Samsung, and SK Hynix. Once the graphics processing cards (GPUs) were in place, the need for memory chips arose, which created a supply shortage. Micron’s revenue tripled in the second quarter of fiscal 2026 as the average selling price for its chips surged by 60–79%.

Although Micron has invested US$25 billion in new manufacturing plants, that capacity will take at least three years to come online. Until then, the existing capacity will run at full capacity, and all three companies will enjoy windfall gains. The stock could see two more growth rallies, like Nvidia.

Micron remains one of the best stocks to buy in March 2026 as AI demand is secular, not cyclical. While the revenue growth rate will normalize to 25–50% in two to three years, Micron could sustain its high stock price given the high margins of HBM.

The stock to hedge against geopolitical tensions

Rising trade tensions and geopolitical uncertainty make gold a safe haven. Lundin Gold (TSX:LUG) is a strong hedge stock for March 2026. Many central banks are accumulating gold, driving demand for gold. This is helping gold mining companies benefit from windfall gains.

Among Canadian gold stocks, I am bullish on Lundin Gold because it has one of the lowest costs of $1,015 per oz sold. It expects this cost to increase to up to $1,170 in 2026. Considering that the gold spot price is close to $4,600 after the March dip, Lundin stock could give good dividends and stock price growth.

Investing in this stock now can help you hedge your portfolio against rising geopolitical tensions, as the gold price will rise and so will Lundin Gold’s cash flows.

The stock to benefit from Canada’s infrastructure push

Aecon Group (TSX:ARE) has come into the limelight amidst Canada’s infrastructure push. For a long time,  project approvals were tedious, lengthy, and led to expensive delays, making construction a loss-making venture. However, changes in the system and the establishment of the Major Project Office aim to accelerate approvals.

Aecon Group will benefit from government investment in infrastructure projects and the fast-tracking of projects. The stock price will jump on every new order win. However, infrastructure projects have a long gestation period, and a lot can go wrong. Thus, the stock could be volatile.

Aecon stock is trading at an all-time high on the back of new order wins, and the company is using this opportunity to raise more equity capital. The stock could see a correction as new shares come on the exchange. That would be a good entry point.

Investor takeaway

March 2026 presents unique opportunities across AI, gold, and infrastructure. Micron Technology offers secular AI growth, Lundin Gold hedges against geopolitical risk, and Aecon Group benefits from Canada’s infrastructure boom. Together, these three stocks in March 2026 can help investors balance growth, safety, and diversification.

The post The Only 3 Stocks I’d Consider Buying in March 2026 appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Micron Technology and Nvidia. The Motley Fool has a disclosure policy.

Artificial intelligence (AI) is no longer just a buzzword in Canada’s tech sector. In reality, it’s becoming an essential part of how companies are transforming their operations and boosting efficiency. From supply chain management to advanced hardware solutions, AI is helping businesses adapt faster than ever before. In this article, I’ll talk about two Canadian stocks that are riding the AI wave with strong fundamentals and long-term growth potential. These tech stocks aren’t just keeping up with trends but are actively shaping them.

Kinaxis stock

The first one is Kinaxis (TSX:KXS), a software company based in Ottawa that’s best known for its AI-infused supply chain orchestration platform called Maestro. This platform combines machine learning, optimization, and heuristics to give global enterprises the agility and transparency they need to manage complex supply chains.

After climbing by 7.2% in March alone, Kinaxis stock currently trades at $138.78 per share with a market cap of $3.8 billion. Let me give you a quick look at what’s been happening with Kinaxis lately. In the latest earnings report for the fourth quarter ended in December 2025, Kinaxis posted record results with SaaS (software as a service) revenue growing 19% YoY (year-over-year) to US$97.2 million. Its annual recurring revenue also jumped by 20% to US$433 million.

The company’s strong financial growth trends are mainly due to its focus on large global enterprises in sectors like semiconductors, data storage, and oil and gas. Kinaxis is expanding its reach with over 100 software deals exceeding US$1 million total contract value and over 20 deals above US$1 million average annual contract value.

In the long run, Kinaxis stock looks even stronger as it continues to invest in AI and go-to-market execution. With a record-breaking quarter behind it and a clear plan for future growth, this tech stock is definitely worth considering if you’re looking for something with real staying power.

Celestica stock

Now, let’s talk about another Canadian tech stock that’s making waves in the AI space — Celestica (TSX:CLS). This company mainly designs, manufactures, and provides hardware platforms and supply chain solutions. It works across two main segments, Advanced Technology Solutions and Connectivity & Cloud Solutions, which help it serve customers from aerospace to cloud computing.

After rallying by 200% over the last year, Celestica stock currently trades at $417.61 per share with a market cap of $48.2 billion. The company’s strong performance in recent months is mainly due to its focus on AI infrastructure and advanced technology solutions.

In the fourth quarter of 2025, Celestica posted record results with revenue jumping by 44% YoY to US$3.7 billion. Its adjusted quarterly earnings also surged to US$1.89 per share, exceeding guidance. Strong demand in its Connectivity & Cloud Solutions segment and the strategic expansion of manufacturing capacity globally are continuing to boost its financial growth. The company is now investing heavily in AI infrastructure, including a major U.S. expansion set for 2027 to support Alphabet-owned Google’s TPU systems.

For the long term, Celestica stock looks even stronger as it continues to deepen ties with tech giants like AMD through collaborations on next-gen AI platforms. With a clear roadmap and strong execution, this tech stock is definitely worth considering if you’re looking for something that could deliver solid returns in the years ahead.

The post 2 Canadian AI Stocks Poised for Significant Gains appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has positions in Celestica and Kinaxis. The Motley Fool recommends Celestica and Kinaxis. The Motley Fool has a disclosure policy.

It’s raining dollars in the artificial intelligence (AI) space. Hyperscalers are pouring in free cash flow – and even taking on debt – to build massive AI data centres. The top five hyperscalers have committed US$700 billion in capital expenditure (capex) on AI infrastructure in 2026 alone. That’s double the amount spent in 2025. So, where is all this money going?

AI spending is poised to hit $700 billion

The hyperscalers’ AI spending is revenue for chip, energy, and networking equipment companies, and construction firms building data centres. The money trail is visible in their revenue growth, profits, and share price rallies. For investors, the golden rule is simple: follow the capital flow.

2 top stocks to buy to capitalize on this massive number

Micron Technology

AI data centres require several chips, from graphics processing units (GPUs) to memory chips, and networking switches that connect all parts for seamless computing speed. The triple-digit revenue growth AI spending triggered for Nvidia in 2023 and 2024 is now replicating for Micron Technology (NASDAQ:MU).

Micron is the only US-based memory chipmaker that builds the high-bandwidth memory (HBM) used in data centres and cloud networks. Only three companies make HBM, and all three are seeing an acute supply shortage of memory chips as growing spending on AI data centres drives demand.

The latest quarterly results of Micron showed its revenue growth triple as the average selling price for memory chips jumped 60–79%. This is just the beginning, as Micron has only catered to 50–66% of the customer demand. It has dedicated over US$25 billion in capex to boost capacity and is funding it with its US$11.9 billion operating cash flow (OCF) in the second fiscal quarter alone.  

You can clearly see the dollars raining on Micron. Its stock has already quadrupled, but it still has more room for growth as the threefold revenue growth is backing the share price rally. Micron’s management stated that the current supply shortage is different from previous cycles due to secular AI demand and supply constraints.

Like Nvidia, Micron stock could see AI spending trigger two to three growth phases and sustain the share price when growth flattens.  

Celestica

A Canadian tech stock riding the AI spending wave is electronics manufacturer Celestica (TSX:CLS). This stock even overtook Nvidia in the AI rally, surging 1,268% between November 2023 and November 2025. While Nvidia’s growth flattened after August 2025, Celestica’s stock rallied another 73% until February on the back of high orders. Its fourth-quarter revenue surged 44%, and adjusted earnings per share surged 70% year over year.    

Celestica manufactures Ethernet switches, storage solutions, and networking chips in its Connectivity & Cloud Solutions segment. After the GPU demand, the demand for networking surged. NVIDIA reported a 263% jump in its networking and 58% surge in compute revenue in the fourth quarter.

Once again, the AI spending is clearly visible in revenue numbers. Celestica expects CCS revenue to grow another 50%. To meet demand, Celestica announced $1 billion in capex for new plants in Texas, Mexico, Japan, and Taiwan.

How long will this AI spending cycle last?

Investors fear that the AI spending bubble will burst and wipe out the valuations. Unlike past tech cycles, AI demand is secular and driven by automation, cloud computing, and hyperscaler expansion.

OpenAI and Anthropic are currently leading the AI application space, occupying all the AI compute capacity they can get. The current reality is that companies like Google or Amazon are ordering equipment for AI data centres, and a significant portion of that $700 billion is going to these suppliers.  

Until capex growth slows, the AI spending cycle will continue to generate hypergrowth opportunities.

The post AI Spending Is Poised to Hit $700 Billion in 2026: 2 Top Stocks to Buy to Capitalize on This Massive Number appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Alphabet, Amazon, Celestica, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.

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

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.

The post The Canadian Companies Building AI Infrastructure (and Why They Matter) appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Capital Power and Celestica. The Motley Fool has a disclosure policy.

BCE (TSX:BCE), a cornerstone of Canada’s telecom sector and renowned as a dividend knight, has been in the spotlight lately for its dividends. What started as a concern in 2022 became a reality in 2025. The dividend knight cut its dividend by 56% in 2025 after 16 years of growing it. The last time it slashed its dividend was in 2008. Unlike in 2009, when BCE rebounded with a dramatic dividend hike of 116% in 2009, I anticipate stagnant dividends for at least the next two years.

Why has BCE paused dividend growth?

The world has changed for BCE. It no longer has the pricing power it once had due to its exclusive access to its own telecom infrastructure. But the regulator opened the infrastructure to competitors. Heightened competition and a subsequent price war eroded BCE’s pricing power.

Bell was not prepared for this, as it had already invested billions in building 5G infrastructure and funded it with debt. The price war reduced the return on capital employed, and high interest rates increased the cost of capital, making debt a burden. BCE still kept more than 100% dividend-payout ratio for two years in hopes of reversing the regulatory change.

The telco accepted the new reality in 2025 by exiting low-margin ventures, such as radio stations, and refocusing its assets, including converting stores into Best Buys and shifting capital to the U.S. with the acquisition of Ziply Fiber.

It slashed the dividend and began a three-year plan to reduce debt. It used some of the sales proceeds to reduce net debt to 3.8 times its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2025 and plans to reduce it to 3.7 times in 2027 and 3.0 times in 2030, underscoring its strategic shift toward financial stability.

Future of BCE’s dividends

In the next four years, BCE will sell more assets to repay debt and increase EBITDA. It is channelling efforts into high-margin sectors, including cloud computing, cybersecurity, and enterprise solutions, like Ateko, Bell Cyber, and Bell artificial intelligence (AI) Fabric. These endeavours, though initially capital-intensive, are aimed at boosting returns and debt repayment capabilities.

Bell Canada is building a $1.7 billion 300-megawatt AI data centre in Saskatchewan for sovereign AI compute. This commitment to AI has already sparked a 16% rise in BCE’s share price between December 23, 2025, and March 4, 2026, before the Iran market upheaval impacted stocks overall.

While AI’s earnings potential remains in development, BCE is strategically redefining its dividend payout range from a previous 65%-75% of free cash flow (FCF) down to 40%-55%. In 2025, the company achieved a payout ratio of 64%, which is still more than the target range but significantly lower than the 2024 ratio of 125%.

The company is trying to grow its FCF by 15% annually between 2025 and 2028. In 2025, it grew FCF by 10% and expects a similar growth in 2026. It means the last two years of 2027 and 2028 could see higher FCF growth. At that time, BCE could probably resume dividend growth.

Should you invest in this stock now?

The worst is over for BCE as it has exited all slow-growth segments. It is a good time to invest as the share price will recover from the restructuring dip and grow from its AI investments. You could expect capital appreciation in the next two years and dividend growth from 2028 onwards.

Invest wisely by gaining insights into dividend strategies and emerging investment opportunities. Secure your future by aligning with evolving market trends and promising entities like BCE. Sign up today and embrace the power of informed investing!

The post Why BCE’s Dividend Has Been in the Spotlight Lately  appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Some things are inevitable. The market uncertainty, wars, tariffs, and supply chain shifts cannot deter the future of artificial intelligence (AI). AI is coming, and it is disruptive.  If you’re poised to invest $1,000, consider these two growth stocks – each with the potential to double your money over the next two years as AI continues to disrupt and transform industries.

Top growth stocks to buy that could double your money

Achieving a 100% return within two years means targeting stocks that can grow by 50% annually. And guess which stock just rebounded from a seven-month-long downturn.  

Potential to double your money

Topicus.com (TSXV:TOI) stock has rallied 29% since February 25 after reporting a strong full-year 2025 earnings. The key growth driver was the increase in the fair market value of its biggest acquisition, Asseco Poland.

Topicus.com acquires small vertical-specific software companies that operate in niche markets and offer mission-critical applications with little competition. The key parameter for acquisition is that the company should earn regular free cash flow (FCF) from maintenance and professional fees. AI threatened this very source of FCF.

Anthropic’s new Claude.ai update threatened to replace several software jobs, sending software stocks into a correction zone. The share price of Topicus.com, which acquires such companies, also fell. However, the feud between Anthropic and the US government has made investors cautious around AI applications and their ethical use. An article in Time magazine explains investors’ emotions around AI and Anthropic.  

In the meantime, Topicus.com made a bold move to acquire a stake in publicly traded IT services company Asseco. It had purchased a 9.9% stake earlier and derivatives to acquire another 14.8% stake. As the value of the shares increased, Topicus.com realized the derivatives and increased its stake in Asseco to 23.1% after some derivative adjustments.

The year 2026 could see a recovery in the share price as the company adjusts to the AI impact. Now is a good time to invest in the stock as it trades at a 12x book value per share, its lowest since May 2022, when it completed the Topicus.com acquisition. The first year always has high depreciation and amortization from the acquisition. The real returns are visible in later years.      

Capitalize on AI growth with Micron Technology

Micron Technology (NASDAQ:MU) experienced a brief dip on February 25 due to escalating Iranian tensions, dropping 14% before quickly rebounding. This volatility reflects underlying strength as the memory chip supply shortage continues to drive up chip prices.

Micron is focusing its capacity on high-bandwidth memory (HBM) for data centres. These are high-margin products, and Samsung and SK Hynix are the only two companies other than Micron that make these chips. The growing demand for AI from hyperscalers and governments worldwide could see triple-digit revenue and profit growth for the next two years.

Remember the Nvidia, Broadcom, and Celestica rally. All three catered to hardware for AI data centres. If you missed their rally, you have got another chance at it with Micron.

Investor takeaway

With the AI-driven future fast approaching, these stocks offer promising avenues for those looking to capitalize on this technological revolution. By investing in Topicus.com and Micron Technology, you stand to benefit from their strategic positions in the AI ecosystem.

Position yourself strategically in the evolving AI landscape by equipping yourself with the latest investment insights from our newsletter.

The post Got $1,000? 2 Top Growth Stocks to Buy That Could Double Your Money appeared first on The Motley Fool Canada.

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The Motley Fool has positions in and recommends Topicus.com. The Motley Fool recommends Celestica, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy. Fool contributor Puja Tayal has no position in any of the stocks mentioned.

Some of the best dividend-paying stocks trade on the TSX. And if you are looking to build a portfolio of stable dividend payers, you cannot miss out on Capital Power (TSX:CPX). In the swiftly evolving landscape where artificial intelligence (AI) is poised to dominate, electricity and the internet will become indispensable utilities. If you’re seeking to future-proof your investments, Capital Power offers a stable bet on dividends and long-term growth.

Why capital power is a compelling dividend stock for the next AI boom

Capital Power acquires, develops, and operates natural gas and solar power plants. It sells electricity through long-term supply contracts, which give visibility around future cash flows. It also earns incremental profit from trading natural gas, electricity, and carbon credits.

In 2025, Capital Power completed a $3 billion acquisition, which increased its natural gas-fired capacity by 2.2 gigawatts. It is eyeing the AI data centre market and has signed a memorandum of understanding with data centres to build power plants for them. It started 2026 with 11.8 GW capacity and has 25 GW of projects in the pipeline, of which over 16GW is from mergers and acquisitions.

Capitalizing on AI growth

In 2025, Capital Power’s net income fell 77% because of huge depreciation from rapid expansion. However, it expects to grow its cash flow at a compounded annual growth rate (CAGR) of 8–10% through 2030 by adding new power plants, contracting and trading electricity, and securing enterprise funding. It is looking to grow its return on equity from 9–13% in 2025 to 13–15% by 2030 and dividend by 2–4%.

Capital Power is tapping the high-growth market of natural gas-fired power plants that cater to AI data centres in the United States. This opportunity saw Capital Power’s share price rally 90% and 60% in two growth cycles in the last two years. More such growth cycles are likely in the next five years as more AI data centres begin operations. And the plants powering these data centres could become strong dividend payers of the future.

Stay ahead in your investment strategy by subscribing to our newsletter, offering insights like these to help you make informed decisions.

How many shares of Capital Power should you own to get $1,000 in dividends?

Capital Power has a history of growing dividends at a CAGR of 6% in the last 12 years. This dividend growth could slow in the next five years, but could grow later as more power plants come online. The stock is giving a 4.6% yield.

If your target is to earn $1,000 in annual dividends in 2026, you would need 362 shares of Capital Power, which would require an investment of $21,900 at the current market price of $60.40 per share. However, you can get a similar dividend by buying only 300 shares for $18,156. You only have to wait for four years, letting your dividend compound in Capital Power’s dividend reinvestment plan (DRIP).

Here is a rough forecast of how your money can grow under Capital Power’s DRIP. If you buy 300 shares now, you can get $829 in annual dividends. DRIP will reinvest this dividend to buy more income-generating shares. I expect the share price to grow to $70 in the AI boom, and Capital Power to grow dividends by 2% till 2028, and 4% from then onwards.

The 2026 dividends will buy you 12.8 DRIP shares, which will generate $882 in annual dividends in 2027. In four years, an increasing share count and growing dividend per share could help you reach $1,000 in annual dividends by 2029.

Now is the time to invest in AI energy infrastructure as newer versions of AI come up.

The post Here’s How Many Shares of Capital Power You Should Own to Get $1,000 in Dividends appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Capital Power. The Motley Fool has a disclosure policy.

The talks around artificial intelligence (AI) never get old. Earlier, these talks were futuristic, and now they are the present, and how it is shaping the next five years. While you can spend an eternity talking about the possibilities of AI, we are here to talk about how AI can make you the next big buck. With AI taking away jobs, it is time to change your point of view and make AI work for you rather than replace you. How can you do that? Through passive income.

How to invest in AI without buying tech stocks

The real growth lies in tech, be it semiconductors, data centres, or AI applications. These stocks can give you growth through share price appreciation. However, energy and utility stocks can give you regular income.

AI energy stocks

The significant investment in AI data centres that drove Nvidia and Broadcom stocks between November 2022 and November 2025 will now shift to data centre operations. AI data centres consume a massive amount of electricity, and building several such data centres will drive demand for electricity. Goldman Sachs Research expects global power demand from data centres to increase by 50% by 2027 and by as much as 165% by 2030, compared with 2023.

Most of this demand will be met by natural gas-fired power plants as they are faster and cheaper to build. A gas-fired power plant takes three to four years to expand and five to seven years to build from scratch.

Capital Power

Capital Power (TSX:CPX) develops, acquires, owns, and operates power generation facilities. It has 25 gigawatts of project pipeline, of which the majority is through acquisition and development. The company has set a target to grow megawatts and margins by 2030. It aims to grow its adjusted funds from operations (AFFO) at a compounded annual growth rate of 8-10%. It aims to grow its dividend by 2-4% and maintain a dividend payout ratio of 30-50% through 2030.

Capital Power stock has surged 68% since April 2024, when the AI infrastructure boom started driving energy demand. There is more upside as many new AI data centres come online.

TC Energy

TC Energy (TSX:TRP) will benefit from growing demand for liquified natural gas (LNG) in the United States and Europe. The company recorded its highest delivery across its U.S. and Canadian Natural Gas Pipeline Systems of 39.9 billion cubic feet (Bcf) and 33.2 Bcf, respectively. The demand was driven by record power demand from data centres, coal-to-gas conversions, and LNG exports.

TC Energy stock has surged 65% since mid-2024 and could continue to grow till 2030 on the back of AI energy demand and LNG exports.

Note that the above energy stocks are regular quarterly dividend payers and have been growing their dividends by 6% and 3%, respectively. Moreover, they offer a dividend-reinvestment plan (DRIP). Investing in their DRIP option can help you build a passive-income pool while your invested money powers AI, literally.

AI telecommunication stocks

An AI data centre will process and store data. However, for this data to reach the end user needs a strong internet connection with low latency. Moreover, the growing adoption of AI in everyday work will lead to a growing demand for secure, high-speed internet in connected devices such as cars.

The broadband connectivity will be provided by Canada’s two large telecom companies, Telus and BCE (TSX:BCE). BCE is offering enterprise AI solutions through Ateko, Bell Cyber, and Bell AI Fabric, Canada’s full-stack sovereign AI platform. It expects to earn $1.5 billion in AI revenue by 2028. This amount makes up for just 6% of its 2025 revenue of $24.4 billion, as its core revenue will come from telecom and communication systems. Even Telus has merged its digital solutions business that offers AI services. They both offer quarterly dividends and a DRIP option.

The post How to Invest in AI Without Buying Tech Stocks appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Capital Power, Nvidia, and TELUS. The Motley Fool has a disclosure policy.

Which is the hottest stock for growth? Micron Technology (NASDAQ:MU). This stock has surged 31% year-to-date and 351% in the last 12 months. The valuations are skyrocketing, but the rally is led by an acute supply shortage. This shortage is of high-bandwidth memory chips (HBM) used in artificial intelligence (AI) data centres. And with billions of dollars being poured into AI data centres, hyperscalers are willing to pay a premium. This is making Micron a stock to buy even at its high.

The growth opportunity of Micron

Micron is the third-largest memory chipmaker and the only one in the United States. In a world where trade protectionism is growing and the AI data centre market is booming, Micron has an edge. The largest memory chipmaker, Samsung, has started selling chips at spot prices, refusing to sign long-term contracts. SK Hynix is focusing on HBM.

Micron is stopping production of mobile and computer memory chips to divert capacity to data centre memory. This saw mobile and PC makers stocking up ahead. Memory and storage capacity needs will grow as more Large Language Models (LLMs) are built. Dynamic random access memory is needed to process the data and NAND Flash to access data faster.

Unlike Nvidia’s graphics processing units (GPUs), which are meant for high-end and graphics computing, memory chips are used in almost all devices that use data. The three major memory chip makers make up almost 90% of the memory chips produced in the world. They get volume and a high price in a supply shortage.

When will the Micron growth cycle end?

The memory chip supply shortage will continue in 2026 and beyond as Micron’s fabrication facilities running at full capacity are only catering to 66% of the demand. Micron’s past growth cycles were also triggered by a supply shortage and lasted for three years.

This shortage cycle will also last for three years, as that is the time it takes to bring in new capacity. And once this shortage ends, there could be a shortage in the mobile and PC space. There is a possibility that the current growth cycle could last more than three years.

Another interesting thing about the current cycle is that the shortage is for high-margin products. The past growth cycles were for commoditized mobile and PC memory chips. This edge means the cyclical rally could be bigger than past cycles.

Where should you place this stock: TFSA or RRSP?

An effective way to invest in a growth-oriented stock like Micron is through a Tax-Free Savings Account (TFSA). A TFSA allows you to grow your money and withdraw it tax-free, even if it is US stocks. The capital gains tax will be exempt, but dividend income will face a 15% withholding tax. However, Micron’s dividend yield is negligible, 0.11%. The TFSA is ideal for such wealth-generating stocks.

Micron could see small dips due to profit booking. That is a good opportunity to buy more shares. Note that a TFSA does not allow trading. So, avoid frequent buying and selling of Micron stock. Instead, buy the stock and hold it for the next two years. In 2028, review the performance and consider selling it.

Another approach could be to buy shares of Micron and sell them when your money doubles. You can buy the shares again when the cycle ends and hold them for another cyclical rally.

Irrespective of the strategy you adopt, do not buy Micron stock in a Registered Retirement Savings Plan (RRSP). The RRSP exempts the 15% withholding tax in US dividends. The capital gain from this stock will be taxable, as RRSP withdrawals are taxable.

The post TFSA vs. RRSP: Where Should You Buy Micron Stock? appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Micron Technology and Nvidia. The Motley Fool has a disclosure policy.

A Tax-Free Savings Account (TFSA) is an ideal instrument to generate wealth. The best way to make optimum use of its tax benefit is to invest in high-growth stocks. When you speak of growth, you have to invest in stocks that are futuristic, whose businesses you can see being relevant for years to come.

The sector to invest in through a TFSA

The artificial intelligence (AI) boom that began in 2023 and peaked in 2024 is now facing cautious growth in 2025. Analysts fear that 2026 could be the year when the AI bubble may burst. A bubble doesn’t mean that AI is not the future. It only means that investors are pricing in several years of future growth today. The shares are overvalued and need a strong reason to justify that valuation or face a correction.

NVIDIA, the poster child of AI, which saw its revenue jump threefold, has seen its share price growth stagnate in 2025. Microsoft, among the early investors in ChatGPT creator OpenAI, is worried about the AI return on investment (ROI) to justify the billions of dollars of capital. Has the AI growth slowed, or is there more room for growth?

AI is like a relay race where one supplier will facilitate the other to harness the power of AI. Companies like Nvidia and Microsoft have completed the first segment of the AI relay race by providing graphics cards and building large language models (LLMs). They have now passed on the baton to memory chips.

The only stock to hold in TFSA for life

The thing with memory chips is that you need them in different shapes, sizes, and performance levels to perform any digital task. Personal computers, mobile phones, Internet of Things (IoT), cloud computing, and autonomous cars – each revolution creates a new segment for memory chip demand. There are two major memory chips: dynamic random access memory (DRAM), which processes large data sets, and NAND Flash, which accesses data faster.

The AI revolution has created an acute shortage of high-bandwidth memory (HBM) chips used in AI data centres. To give you a sense of how acute the shortage is, US-based Micron Technology (TSX:MU) said that it will stop making memory chips for consumers and divert that capacity to HBM. All this happened in the fourth quarter of 2025.

Micron is the third-largest memory chip maker after South Korea’s Samsung and SK Hynix. The three command more than 80% market share. Micron is able to meet two-thirds of the demand. This shortage has shot up DRAM prices by 600% in the last quarter, encouraging Samsung to decline long-term DRAM contracts and instead sell at higher spot prices.

This is not the first time a memory chip shortage has occurred. There are growth cycles, like a mobile and PC upgrade cycle, which see demand overtake supply. A memory chip cycle generally lasts three to four years, as that is the time it takes to build a new fabrication facility. Until then, the three suppliers enjoy higher prices for their limited capacity. The cycle ends when new production comes online.

Micron stock has surged 200–300% in each of these cycles. However, the AI supply shortage is different.

Why is Micron stock a buy even at its high?

Micron stock has already surged almost 350% in the last 12 months, and the supply shortage is showing no signs of slowing. The company expects the shortage to last throughout 2026 and beyond. It is building a new fab in Singapore for US$24 billion, and acquiring Powerchip’s P5 site in Taiwan for US$1.8 billion in cash to increase DRAM production capacity.

Even if the AI cycle fades, memory chipmakers will have pent-up demand from PC and mobile memory chips, which are expected to face a supply shortage in 2026, as per a report from IDC. Consider Micron’s 300% rally as the initial rally of Nvidia in November 2022, when the AI boom began. Even Nvidia stock jumped 300% in the first year, and cautious investors avoided the stock only to miss the next 300% rally in the second year.

The post The Only Stock I’d Hold in a TFSA for Life appeared first on The Motley Fool Canada.

More reading

• The Only 3 Stocks I’d Consider Buying in March 2026
• AI Spending Is Poised to Hit $700 Billion in 2026: 2 Top Stocks to Buy to Capitalize on This Massive Number
• Got $1,000? 2 Top Growth Stocks to Buy That Could Double Your Money
• TFSA Investors: My Game Plan for 2026

Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Micron Technology, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.