Telus announces five-year $70B funding plan to bolster networks, open AI data centres
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Hey there, time traveller!
This article was published 27/05/2025 (305 days ago), so information in it may no longer be current.
VANCOUVER – Telus Corp. has announced it will spend more than $70 billion over the next five years to enhance connectivity, including through improvements to its network infrastructure and by building artificial intelligence data centres.
The telecommunications company says in a press release that part of the funding will go toward bolstering fibre connectivity across B.C., Alberta, Quebec and Ontario, while increasing wireless coverage through enhancements to 5G and LTE services.
It says it will expand its broadband network to 20 Indigenous lands, adding to the current total of 637 as well as 53 rural communities, up from the current 530 — by 2026.
Telus also says it plans to open two new AI data centres in Kamloops, B.C., and Rimouski, Que., which will aim to provide Canadian businesses and researchers with “access to cutting-edge technology.”
The company says its funding will “help fuel homegrown innovation and support the prosperity of urban and rural communities” at a time when Canada “navigates a challenging economic environment and seeks to attract more investment to stimulate growth.”
Telus CEO Darren Entwistle says the investment “transcends traditional connectivity” by “powering advanced digital services, fuelling innovation across all sectors of the economy and propelling our productivity as a nation.”
This report by The Canadian Press was first published May 27, 2025.
Companies in this story: (TSX:T)