Telus has committed to investing over $70 billion CAD across Canada over the next five years. The investment aims to bolster network infrastructure, expand 5G and LTE services with upgrades to over 500 sites, and establish AI data centres. A key focus will be expanding the PureFibre network in British Columbia, Alberta, Quebec and Ontario, enhancing internet access for homes and businesses. This initiative includes the construction of two 'Sovereign AI Factories' in Kamloops, British Columbia, and Rimouski, Quebec, in collaboration with NVIDIA, to support Canadian AI development while keeping data within the country. The company also plans to add 500 new wireless sites nationwide to expand coverage, particularly in rural and Indigenous communities, and redevelop legacy copper networks into affordable housing units.
Telus's CEO, Darren Entwistle, highlighted that this investment transcends traditional connectivity, powering advanced digital services and fuelling innovation across various sectors. The investment aims to drive Canada's competitiveness on the global stage, advancing its leadership in AI sovereignty and innovation. This move comes amidst economic uncertainty, with the company aiming to stimulate growth and support both urban and rural communities. The company reported a strong demand for bundled wireless and broadband services, with an increase of 218,000 mobile and fixed customers in the first quarter of 2025.
This investment aligns with Telus's capital expenditure plans for 2025, projecting approximately $2.5 billion CAD annually, excluding real estate investments. The company aims to integrate its corporate strategy with broader societal goals, investing in community partnerships, healthcare access via Telus Health, and youth empowerment through sports and cultural programs.
