O’Leary Plans $70 Billion AI Data Center in Alberta
Canadian investor Kevin O’Leary has announced plans to build what he calls the world’s largest artificial intelligence data center in northwest Alberta, with a projected investment of $70 billion over multiple phases.
The Wonder Valley project, to be constructed in the Municipal District of Greenview’s heavy eco-industrial district south and east of Grande Prairie, will begin with a $2.8 billion first phase generating 1.4 gigawatts of power, with plans to add one gigawatt annually in subsequent phases.
This is “the most compelling site in all North America to generate and offer 7.5 GW of low-cost power to hyperscalers over the next five-10 years,” O’Leary said, citing the region’s access to natural gas, pipeline infrastructure, water, and fiber optic networks.
O’Leary Ventures has signed a letter of intent with the Greenview Industrial Gateway to purchase and develop thousands of acres for the hyperscale data center. These facilities differ from traditional data centers by their ability to dynamically scale operations across multiple machines to process high volumes of data.
“We will engineer and build a redundant power solution that meets the modern AI compute reliability standards,” O’Leary said.
“This is more than just an investment in land; it’s an investment in the future of innovation and economic expansion for Canada,” said Tyler Olsen, reeve of the Municipal District of Greenview, highlighting the project’s potential benefits for local communities.
The project aims to establish Alberta’s position in the emerging AI infrastructure industry. “Beyond jobs and financial benefits, this venture promises to establish Alberta and Canada as world leaders and as a center of excellence in this emerging industry,” O’Leary Ventures stated in a news release.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
