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Meta Platforms (META) shares are inching higher on Thursday after the tech behemoth said it will invest $9 billion to set up its first-ever Canadian data center in Alberta.
The 1-gigawatt facility will be dedicated to scaling its massive artificial intelligence (AI) workload and Llama models, the company’s management confirmed in a press release.
Compared to the start of this year, Meta stock is down about 6% at the time of writing.
Here’s What We Know About Meta’s New Data Center
The announced facility in Sturgeon County would mark Meta Platforms’ 33rd data center globally, and its very first outside of the U.S.
With an initial capacity of 1 gigawatt and the capability to eventually scale up to 1.8 gigawatts, it’s one of the firm’s largest artificial intelligence infrastructure projects to date.
Crucially, Alberta’s unique advantages, including abundant natural gas supplies and cool climate, may make it easier to address the immense cooling demands of high-performance AI hardware.
To mitigate carbon concerns, META has also teamed up with local energy providers like Pembina Pipeline and Capital Power, executing long-term agreements to fully fund new grid infrastructure while offsetting consumption through dedicated clean energy projects.
Is It a Bullish Announcement for META Shares?
The $9 billion buildout is a long‑duration capacity signal that strengthens Meta Platforms’ artificial intelligence roadmap.
The Alberta campus would materially expand META’s ability to train and deploy Llama models, reducing future dependence on third‑party compute and improving cost efficiency over time.
Meanwhile, the clean‑energy agreements soften regulatory and ESG pushback as well.
All in all, the announcement reinforces Meta’s commitment to scaling AI infrastructure, a capital-intensive venture that many believe supports a stronger long-term growth trajectory.
Note that Meta shares have a history of closing both July and August in the green, a seasonal trend that makes it a compelling buy for the near term.
Meta Stock Remains Buy-Rated Among Wall Street Firms
Despite capex concerns, Wall Street remains bullish as ever on META stock for the remainder of 2026.
According to Barchart, the consensus rating on Meta Platforms sits at “Strong Buy,” with the mean price target of about $824 indicating potential upside of roughly 35% from here.
