US Stock Market: Meta unveils C$13 billion AI data centre in Canada; stock in focus

Meta announced plans to build a 13 billion Canadian dollar AI data centre in Sturgeon County, Alberta, with an initial capacity of 1 gigawatt scalable to 1.8 gigawatts, making it one of the company's largest AI infrastructure projects globally. The facility will be Meta's 33rd data centre worldwide and the company will fully fund new power generation and grid infrastructure, with electricity consumption equivalent to about 800,000 homes. Meta has partnered with Pembina Pipeline for long-term energy supply and signed a tolling agreement for electricity from Pembina's Greenlight Electricity Centre, while Capital Power will supply 250 megawatts of interim power until late 2030.