Latest news with #Telus'
Yahoo
28-05-2025
- Business
- Yahoo
Telus to inject $51bn into Canadian network infrastructure by 2029
Telus is planning to invest more than C$70bn ($51bn) in Canada to expand and enhance its network infrastructure and operations. As part of the investment strategy running through to 2029, Telus will focus on several key areas including launching two new AI data centres and increasing wireless coverage and capacity, particularly in rural regions, and lower GHGemissions with environmental-friendly technologies. The two sovereign AI factories will also be established in Kamloops and Rimouski. These facilities are designed to provide Canadian researchers and businesses access to advanced technologies, ensuring that all data and computational outputs remain within Canada. Telus president and CEO Darren Entwistle said: "The C$70bn investment we are making across Canada transcends traditional connectivity; it is powering advanced digital services, fuelling innovation across all sectors of the economy and propelling our productivity as a nation. 'Moreover, this investment 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. 'Crucially, Telus' capital investments empower a more resilient and inclusive society, enabling us to remediate the environmental state of our planet through technology virtualization and bridge socio-economic and geographic divides, particularly in rural and Indigenous communities.' By 2026, the company also aims to expand its broadband networks to 20 more Indigenous lands and 53 additional rural communities. This builds upon the 637 Indigenous lands and 530 rural communities already connected to Telus' networks. Telus said the investment aligns with its capital expenditure plans for 2025. The company had previously projected annual capital spending of approximately C$2.5bn, excluding real estate investments. In 2024, Telus completed a data management modernisation initiative in partnership with Google Cloud and Onix. This collaboration transitioned the company from fragmented, on-premise systems to a unified cloud-based platform, improving data accessibility and enabling future AI developments. "Telus to inject $51bn into Canadian network infrastructure by 2029" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
28-05-2025
- Business
- Time of India
Telus to invest over $50 billion in Canada over next five years
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.
Time of India
28-05-2025
- Business
- Time of India
Telus to invest over $50 billion in Canada over next five years
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.
Yahoo
27-05-2025
- Business
- Yahoo
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. ($1 = 1.3759 Canadian dollars)
The Star
27-05-2025
- Business
- The Star
Telus to invest over $50 billion in Canada over next five years
FILE PHOTO: A sign for Telus Communications in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo (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. ($1 = 1.3759 Canadian dollars) (Reporting by Arsheeya Bajwa and Deborah Sophia in Bengaluru; Editing by Shreya Biswas)
