Telus Announces $70 Billion Investment Plan, Including AI Data Centers and Network Expansion

Telus to invest over $50 billion in Canada over next five years

May 27 (Reuters) - Telus (T.TO), opens new tab is investing more than C$70 billion ($50.88 billion) in Canada over the next five years to expand its network infrastructure in the country, the telecom company said on Tuesday. The investment will go towards launching two new artificial intelligence data centers as well as help increase Telus' wireless coverage and capacity across more regions, particularly the rural areas, the company said. Telus' big investment comes at a time when the Canadian economy is showing signs of a slowdown due to U.S. President Donald Trump's tariffs on the country. "As the country navigates a challenging economic environment and seeks to attract more investment to stimulate growth, this commitment to Canada's future will help fuel homegrown innovation," Telus said in a statement. Canada sends the U.S. about 75% of its exports, including steel, aluminum and autos, which have been hit by the hefty U.S. duties. The tariffs have prompted Canadian companies to review their ties to U.S. markets and boost local operations, while some firms are also setting up sales channels and offices in other countries. ($1 = 1.3759 Canadian dollars) Reporting by Arsheeya Bajwa and Deborah Sophia in Bengaluru; Editing by Shreya Biswas Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Media & Telecom

Telus announces five-year $70B funding plan to bolster networks, open AI data centres

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."

Telus launches C$70 billion investment targeting fibre, 5G, AI and rural access By Investing.com

Investing.com -- Today, Telus Corp (TSX:T) announced it will invest more than C$70 billion over the next five years to upgrade and expand its network and operations across Canada. The initiative, designed to stimulate innovation and digital inclusion, comes at a time when the national economy is grappling with macro uncertainties and increased calls for private sector-driven growth. The company's plan includes widespread fiber-optic deployment, the expansion of 5G infrastructure, and the scaling of digital equity programs reaching Canada's most underserved communities. Chief Executive Darren Entwistle said the investment is not only about connectivity, but about "powering advanced digital services, fuelling innovation across all sectors of the economy and propelling our productivity as a nation." Since 2000, Telus has committed more than C$276 billion to Canada's digital infrastructure, positioning itself as one of the largest private investors in the country's economy. Over the same period, the telecom has garnered recognition for its growing suite of social impact programs, including its Health for Good and Friendly Future Foundation efforts. Entwistle emphasized the broader national benefits of this commitment: "The $70-billion investment we are making across Canada transcends traditional connectivity. It is a cornerstone of Canada's competitiveness on the global stage, driving critical transformational change and advancing our leadership in Canadian AI sovereignty, innovation and development." A centerpiece of this latest strategy is Telus' plan to bring PureFibre connectivity to new urban and rural regions in British Columbia, Alberta, Quebec, and Ontario, while also expanding coverage to 73 more rural and Indigenous communities by 2026. Simultaneously, Telus will redevelop some of its facilities into mixed-use TELUS (TSX:TIXT) Living real estate developments that seek to address housing and sustainability challenges through the reuse of copper infrastructure. The company is also investing in new technological infrastructure to enhance Canadian data sovereignty, including launching two Sovereign AI Factories in Kamloops and Rimouski. Telus said these data/AI centers will ensure that "every piece of data, computation and breakthrough created will remain within our borders." According to Telus, more than 1.4 million Canadians have benefited from its digital accessibility and healthcare programs to date, a figure expected to expand under the new capital plan. Beyond social impact, the company is leveraging its data and technology to digitize traditional industries via its Agriculture & Consumer Goods division, improving sustainability and traceability in Canada's food supply chain. Since 2000, Telus has paid an estimated C$61 billion in total taxes and fees, including over C$2.3 billion in 2024 alone, demonstrating what it termed a commitment to tax morality and national development. "Through our team's passionate efforts," Entwistle noted, "we are ensuring that all of our fellow Canadians can fully participate in, and benefit from, the digital economy and our digital societies for generations to come."

Telus to invest over $50 billion in Canada over next five years

(Reuters) - Telus is investing more than C$70 billion ($50.88 billion) in Canada over the next five years to expand its network infrastructure in the country, the telecom company said on Tuesday. The investment will go towards launching two new artificial intelligence data centers as well as help increase Telus' wireless coverage and capacity across more regions, particularly the rural areas, the company said. Telus' big investment comes at a time when the Canadian economy is showing signs of a slowdown due to U.S. President Donald Trump's tariffs on the country. "As the country navigates a challenging economic environment and seeks to attract more investment to stimulate growth, this commitment to Canada's future will help fuel homegrown innovation," Telus said in a statement. Canada sends the U.S. about 75% of its exports, including steel, aluminum and autos, which have been hit by the hefty U.S. duties. The tariffs have prompted Canadian companies to review their ties to U.S. markets and boost local operations, while some firms are also setting up sales channels and offices in other countries. Telus said the investment is consistent with its capital expenditure plans for 2025. The company in February projected about C$2.5 billion in annual capital spending, excluding real estate. Demand for Telus' bundled wireless packages and broadband networks has been strong. The company reported total mobile and fixed customer growth of 218,000 in the first quarter of 2025. (Reporting by Arsheeya Bajwa and Deborah Sophia in Bengaluru; Editing by Shreya Biswas)