Canada’s finance minister, François-Philippe Champagne, emphasized the importance of energy investments in securing the country’s economic future. Speaking to business leaders in Halifax, Champagne highlighted that robust energy infrastructure will support the technologies driving the 21st-century economy, particularly in electrification across transport, manufacturing, and industrial sectors.
The minister noted a surge in interest from artificial intelligence (AI) companies looking to establish energy-intensive data centers in Canada, capitalizing on the nation’s abundant resources. However, recent market volatility has affected AI stocks, with Nvidia’s value plummeting today following the resignation of its CEO amid a scandal.
Champagne acknowledged stock market fluctuations but stressed that investing in foundational energy infrastructure is a long-term strategy. “When you invest in foundational pieces like energy, you cannot be wrong because energy will be key to power our economy for now and obviously the future,” he told reporters.