Meta's $9B Alberta Data Center Signals Hyperscaler Stampede Into Canada
META sits 31% above its 52-week low of $520.26.
Summary
Meta is building a C$13 billion ($9 billion) data center in Alberta, its first in Canada, with Capital Power supplying 250 MW until a Pembina Pipeline natural gas plant comes online in 2030. Capital Power's CEO says multiple US hyperscalers have been evaluating Alberta for 18 months and expects a multi-gigawatt market. This follows Meta's aggressive AI infrastructure push, including a $21B CoreWeave commitment and a new cloud business to monetize excess compute. The move validates Alberta's cheap natural gas, cold climate, and permissive power rules, potentially accelerating a wave of hyperscale builds in the province. Watch for announcements from other hyperscalers and power purchase agreements with Capital Power.
At the time of this announcement, META was trading at $681.03 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $520.26 to $790.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.