The Canadian Companies at the Heart of the AI Infrastructure Buildout

Many people who saw artificial intelligence (AI) just as a buzzword are now witnessing it transform into a huge, real-world opportunity. But behind every AI model and smart application is the infrastructure that powers it all. From data centres to advanced hardware, this base is what really makes large-scale AI possible.

As demand for AI continues to surge, companies building this infrastructure are gaining popularity. In this article, let’s take a closer look at two top Canadian stocks that are playing an important role in powering the AI revolution.

A behind-the-scenes powerhouse enabling AI growth

Celestica (TSX:CLS) could be an amazing Canadian stock to consider as demand for AI infrastructure continues to expand. The company designs and manufactures hardware platforms and provides supply chain solutions that support cloud computing and AI data centre operations.

After rallying by around 360% over the last 12 months, CLS stock currently trades at $569.51 with a market cap of $65.5 billion.

Celestica’s latest results highlight how quickly demand for its services is rising. In the first quarter, the company’s revenue jumped 53% year-over-year (YoY) to more than US$4 billion, while its adjusted operating margins rose to 8%.

The biggest contributor to this growth was its Connectivity & Cloud Solutions segment, where revenue surged 76% YoY. This improvement is closely linked to rising demand from hyperscalers and cloud providers building out AI infrastructure. These customers rely on Celestica for servers, storage systems, and networking hardware — all essential components for running AI workloads at scale.

In the first quarter, the company scored a notable win with a program to develop a co-packaged optics Ethernet switch for a hyperscaler, designed for AI-scale networks with advanced cooling and high-speed performance. With production expected to pick up in 2027, Celestica’s role in next-generation data centres could further strengthen its position in the AI infrastructure space over the long term.

A growing player in energy and data infrastructure

On the other side of the AI buildout, the need for massive energy and data capacity is becoming just as critical — and Keel Infrastructure (TSX:KEEL) is positioning itself to benefit from that. The company is building the energy and data infrastructure required to support high-performance computing (HPC) and AI workloads.

Following a 192% rally in the last year, KEEL stock now trades at $4.18 per share with a market cap of $2.53 billion.

One of Keel’s biggest strengths is its strong pipeline. Notably, the company has a total power capacity pipeline of 2.2 gigawatts, including 648 megawatts of secured capacity and over 1,500 megawatts in development. This scale is important because AI workloads require massive amounts of energy. By investing in power generation and data infrastructure, Keel is positioning itself to meet that demand.

At the same time, the company is also focusing on renewable energy sources, including hydroelectric capacity in regions like Quebec and Washington. This move aligns with the growing push for sustainable AI infrastructure.

As AI adoption continues to accelerate, the demand for infrastructure is likely to grow alongside it. And that’s exactly why stocks like Keel could surge.

The post The Canadian Companies at the Heart of the AI Infrastructure Buildout appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has positions in Celestica. The Motley Fool recommends Celestica. The Motley Fool has a disclosure policy.