Telus targets AI data centres

Article Excerpt

TELUS, $21.22, is a buy. The company (Toronto symbol T; Shares outstanding: 1.5 billion; Market cap: $31.8 billion; TSINetwork Rating: Above Average; Dividend yield: 7.6%; www.telus.com) is Canada’s largest wireless carrier. It also sells landline phone, Internet and TV services in B.C., Alberta and eastern Quebec. Telus is now building new computer datacentres—one in Kamloops, B.C. and another in Rimouski, Quebec—that will run artificial intelligence (AI) software using advanced chips from Nvidia Corp. (Nasdaq symbol NVDA). Note—Nvidia is a recommendation of Wall Street Stock Forecaster, our newsletter that covers U.S. stocks. The company has not yet said how much these new facilities will cost. However, they should help it attract more clients, particularly given Canadian businesses are wary about storing their data on foreign platforms. Telus Corp. is a buy. buy…