The federal government has outlined its $2 billion investment into artificial intelligence (AI) computing power.

The $2 billion sum was first revealed in the government’s budget in the spring, but it’s now explaining how that funding will be allocated in three main ways:

First, up to $700 million will go towards leveraging investments in new or expanded data centres, with an application process for businesses to be set up to receive these funds. Next, up to an additional $300 million will be used to provide affordable access to compute power for small and medium-sized enterprises (SMEs.). And finally, up to $1 billion will be spent directly on building transformational public computing infrastructure.

The government says Canada’s AI sector is “a key job creator and driver of productivity, innovation and economic growth,” noting that there were 140,000 “actively engaged AI professionals in Canada” between 2022 and 2023. This marked a 29 percent increase over the previous year.

More information on these funding initiatives can be found on the government’s website.

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