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TELUS Corporation (TU) To Invest C$70 Billion in Canada Over the Next 5 Years

TELUS Corporation (NYSE:TU) has announced that it will invest C$70 billion ($51 billion) in Canada over the next five years to support AI data factories, enhance connectivity, and drive economic growth.

The company has invested over C$276 billion since 2000 to bolster the national economy. The latest investment announcement builds on an impressive track record and comes at a crucial time as Canada navigates through a challenging economic environment.

An executive in a business suit discussing the possibilities of smart technology.

Through 2029, TELUS Corporation will bring TELUS PureFibre connectivity to businesses and homes across Alberta, British Columbia, Ontario, and Quebec to help drive jobs and innovation and fuel productivity. It will also enhance its 5G and LTE services at over 500 sites nationwide.

Moreover, the communications technology company plans to launch two sovereign AI data factories in Kamloops and Rimouski to provide researchers and businesses with access to cutting-edge technology. This will ensure that all computation, data, and breakthroughs created remain within Canada’s borders.

TELUS Corporation will also redevelop its central office buildings into TELUS Living initiatives to address the increasing demand for affordable rental housing.

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