OpenAI explores Canada data center deals at Carney summit

OpenAI is exploring data center partnerships in Canada, drawn by the country's abundant energy and land, as Prime Minister Mark Carney hosts the inaugural Canada Investment Summit in Toronto.

Osborne Touts Canada's Potential

George Osborne, OpenAI's head of countries and the former UK chancellor who once hired Carney to lead the Bank of England, said at the summit on Tuesday that the AI company wants "to see what the investment potentials are in Canada," calling it "a very important market for OpenAI" with "lots of potential here". Osborne told Bloomberg that the company is particularly interested in data center partnerships in Canada because of the availability of energy and land.bloomberg+2

He also praised Carney's approach to artificial intelligence, saying the Canadian prime minister has presented one of the clearer plans for AI adoption among western governments.finance.yahoo

The interest in Canada comes months after OpenAI paused its Stargate data center project in the United Kingdom in April, citing high energy costs and an unfavorable regulatory environment. Canada, with its relatively cheap hydroelectric power and vast tracts of undeveloped land, presents a contrast to the challenges OpenAI encountered in Britain.reuters+2

The Summit's Broader Ambitions

The two-day summit, held September 14–15 at Toronto's Four Seasons Hotel, is a centerpiece of Carney's push to attract $1 trillion in investment to Canada over five years. Organized in partnership with CPP Investments and PSP Investments, the event has brought together hundreds of executives and global asset managers overseeing a combined $120 trillion in assets.wikipedia+2

The summit has already produced early results. The Canada Pension Plan Investment Board and Brookfield Asset Management ↗ 0.93% announced a joint $50-billion "Maple Fund" to invest in Canadian infrastructure, while BCE ↘ 1.86% outlined plans to quadruple its data center capacity in Saskatchewan. The federal government also unveiled a new program giving investors committing $1 billion or more priority access to binding tax rulings from the Canada Revenue Agency.youtube+1

Canada's Data Center Landscape

Canada's AI data center buildout remains in its early stages. Research from Toronto's York University found only five operational hyperscale data centers in the country, defined as facilities of 50 megawatts or above, but 159 more are announced or under construction. OpenAI has begun discussions to secure data center capacity in Canada as part of its global rollout of the Stargate infrastructure platform.energyconnects+1

The push has not been without friction. Carney's data center ambitions have drawn protests from groups who argue the infrastructure benefits corporations more than communities.globalnews+1