AI Spending Is Poised to Hit US$700 Billion in 2026: 2 Top Stocks to Buy to Capitalize on This Massive Number

Artificial intelligence (AI) is fast becoming a core part of how businesses operate and grow. From automating workflows to improving decision-making, AI is continuing to reshape industries at a rapid pace. And the scale of investment going into this shift is massive. According to a recent CNBC report, major tech giants like Amazon, Microsoft, Alphabet, and Meta are expected to collectively spend close to US$700 billion on AI infrastructure in 2026 alone.

For investors, this highlights just how big the opportunity has become. But it also shows that real value is being built behind the scenes — through data centres, computing power, and platforms that enable AI to function at scale.

In this article, let’s take a closer look at two Canadian stocks that are positioning themselves to benefit from this powerful trend.

Keel Infrastructure stock: A shift toward AI infrastructure

As AI adoption accelerates, the demand for computing power and data infrastructure is rising just as quickly. This is where Keel Infrastructure (TSX:KEEL) is carving out its space. The company has undergone a major transformation lately, shifting away from Bitcoin mining to focus entirely on high-performance computing (HPC) and AI infrastructure. This major change aligns closely with where the industry is heading.

To put it simply, Keel generates revenue by providing energy-backed data centre sites designed for AI workloads. Its stock has gained 237% over the last year to currently trade at $3.91 per share with a market cap of $2.4 billion, reflecting growing investor interest in its new direction.

From a financial standpoint, the company reported US$229 million in revenue in 2025, marking a 72% year-over-year (YoY) increase. While it posted an operating loss of US$150 million, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at US$29 million, which was about 13% of total revenue, showing underlying operational strength.

Meanwhile, its balance sheet remains strong. With $520 million in liquidity, including cash and unencumbered Bitcoin, Keel has the resources to continue expanding its footprint.

Its development pipeline of around 2.2 gigawatts across key North American regions like Pennsylvania, Washington, and Québec positions it well to meet rising demand for AI infrastructure in the coming years.

Shopify stock: A proven platform benefiting from AI-driven commerce

While infrastructure is one side of the AI story, application is the other. And that’s where Shopify (TSX:SHOP) is strengthening its presence. As a global commerce platform, it enables businesses to sell across online, in-store, and digital channels. As more merchants adopt AI tools to optimize operations, personalize customer experiences, and improve efficiency, Shopify is becoming an even more valuable platform.

After jumping 59% in the last year, SHOP stock is currently trading at around $184.53 per share with a market cap of about $240 billion.

Its platform integrates multiple sales channels into one system, allowing merchants to manage everything from inventory to payments in one place. This unified approach makes it easier to incorporate AI-driven tools and features, which are expected to further enhance its value proposition. As Shopify continues to invest in AI-powered innovation, its stock may continue to benefit from this rapidly growing trend.

Why these stocks could benefit from the AI boom

The AI opportunity isn’t limited to one type of business. It spans infrastructure, software, and platforms – and both of these companies are tapping into different parts of that ecosystem.

Keel Infrastructure offers exposure to the growing demand for computing power, which is essential for training and running AI models. At the same time, Shopify benefits from the increasing use of AI in commerce, helping businesses operate more efficiently and scale faster.

For long-term investors, having exposure to both sides of this trend could be a smart way to capture the full potential of the AI boom.

The post AI Spending Is Poised to Hit US$700 Billion in 2026: 2 Top Stocks to Buy to Capitalize on This Massive Number appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has positions in Amazon, Microsoft, and Shopify. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Alphabet, Amazon, Meta Platforms, and Microsoft. The Motley Fool has a disclosure policy.