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Canadian Tech in 100 Words

Canada Commits $115 Billion to Electrification Through 2042

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Canada is investing $115 billion in electrification through 2042, anchored by Budget 2026 and the National Electricity Strategy. More than $50 billion of it targets doubling the electricity system by 2050.

The money flows to generation and grid expansion, renewable projects, workforce upskilling, and programs such as Smart Renewables and Electrification Pathways. The strategy responds to rising demand from industry, AI, and data centres. Electricity Canada calls it one of the most significant commitments to the country’s electricity future in a generation.

Want to know more? Check out the source code on CleanEnergy.ca.

National Bank Buys Embark in $226-Million Education Savings Deal

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National Bank of Canada is acquiring Embark Student, a Toronto-based fintech delivering digital-first education savings and planning services, for an estimated $226 million. Embark serves more than 400,000 beneficiaries and manages over $6 billion in assets, making it one of Canada’s largest direct-to-consumer RESP providers.

Embark chief executive Andrew Lo said joining National Bank will accelerate its mission to make education savings accessible to every Canadian parent. National Bank executive Nancy Paquet said the deal fits its savings and investment advisory strategy, and Embark will keep operating as usual for customers while the bank expands its presence across Canada.

Want to know more? Check out the source code on Fintech.ca.

StatCan Finds No Broad AI Hit to Young Tech Workers — Yet

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Young Canadians in coding-heavy jobs face slower hiring, but Statistics Canada says artificial intelligence is not clearly to blame. Its study found no broad evidence AI has substantially cut hiring or raised job separations so far.

For workers aged 15 to 29 in coding-intensive occupations, the hiring rate fell to 1.9% from 2.5% between late 2022 and August 2026. The slowdown began before ChatGPT launched, and the findings draw on Labour Force Survey data stretching back to 2006, though researchers caution future disruption is still possible.

Want to know more? Check out the source code on TechTalent.ca.

Miru Teams With Carlex to Put Dimmable Glass in Cars

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Vancouver-based Miru Smart Technologies has struck an agreement with automotive glass maker Carlex to move its dimmable glass toward production vehicles. Carlex will integrate Miru’s electrochromic technology at its Nashville, Tennessee facility, starting with roof systems.

Miru’s glass changes tint electronically, letting occupants adjust light and glare without losing the view. The company says the process can be applied after glass is bent for large curves. Carlex supplies original-equipment and replacement glass across North America, with other vehicle applications planned over time.

Want to know more? Check out the source code on Techcouver.

Wealthsimple Introduces Penny AI Assistant

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Wealthsimple has unveiled Penny, an AI assistant designed to move money, place trades, and handle financial tasks with client approval. Announced November 5, Penny leads a dozen new products and features as the Toronto fintech expands beyond investing.

Wealthsimple Pay now supports instant transfers of up to $100,000 between clients, while advanced trading platform Wealthsimple Pro arrives in late November. A business credit card and connections to ChatGPT and Claude are planned for early 2027. Penny can help build RRSP contribution plans, flag duplicate charges, and pay invoices, but Wealthsimple says every action requires client confirmation before it is completed.

Want to know more? Check out the source code on Fintech.ca.

Alberta’s Boreal Data Centre Proposal Targets 1.6 GW

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The proposed Boreal Technology Hub near Alberta’s Keephills Generating Station now targets up to 1.6 gigawatts of data centre capacity. Backed by Brookfield, CPP Investments, and TransAlta, the campus could bring more than $5 billion in first-phase investment to Parkland County.

Its initial phase has a 230-megawatt power allocation, while the larger development remains subject to further work and approvals. The proposal pairs computing infrastructure with existing generation, transmission, gas, and water assets. Technical information sessions scheduled for November 12 will address community benefits, environmental considerations, and approval requirements as residents seek answers about noise, water use, and local impacts.

Want to know more? Check out the source code on DataCentre.ca.

Canada Creates More Startups as Early Funding Lags

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Canada produced 892 new technology startups in the first half of 2026, up 20% from the same period last year, according to Panache Ventures research. Yet the share securing pre-seed investment remains below earlier levels: approximately 8% of companies formed in 2024 and 2025 raised funding, compared with 13% in 2023.

Panache says 60% of startups launched in 2025 were meaningfully building with AI, while 44% of founders had experience at venture-backed companies. The findings suggest a growing pool of experienced entrepreneurs, but raise questions about how many businesses will secure capital to reach their next stage.

Want to know more? Check out the source code here.

Mako Connects Odlum Brown’s Client Onboarding

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Montreal fintech Mako has launched a digital onboarding solution for Odlum Brown, linking account opening directly to the investment firm’s Dataphile system. The integration supports Odlum Brown’s self-clearing operations and connects client applications with infrastructure used for trading, clearing, and settlement.

Clients can complete information themselves or work through advisory teams. Requirements adjust based on initial responses, and households can open multiple applications simultaneously. The companies say the system aims to reduce account-opening time and administrative work, giving advisors more room for client relationships. Mako has provided onboarding, client reporting, and form automation to Canadian wealth management firms since 2018.

Want to know more? Check out the source code on Fintech.ca.

Shopify Slides Despite 32% Revenue Growth

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Shopify’s shares fell roughly nine per cent Tuesday despite quarterly revenue climbing nearly 32 per cent to US$3.74 billion. The Ottawa-based company narrowly missed analyst revenue expectations, while net income rose to US$462 million from US$264 million a year earlier. Investment in Sidekick, its AI assistant for merchants, pressured subscription margins as service costs grew faster than subscription revenue.

President Harley Finkelstein said shoppers are beginning to use AI agents to make purchases, although volumes remain small. The results highlight Shopify’s balancing act between funding AI capabilities and satisfying investors whose expectations increasingly outpace its strong growth.

Want to know more? Check out the source code here

Ada Joins Dialpad in $600-Million AI Merger

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Toronto’s Ada is merging with U.S. cloud communications company Dialpad in an all-share transaction valuing the Canadian customer service AI provider at approximately $600 million. That marks a steep decline from Ada’s USD $1.2-billion pandemic-era valuation. The combination brings Ada’s automated voice and chat agents together with Dialpad’s telephony and contact centre infrastructure.

The goal is a broader platform that helps businesses automate customer interactions across channels. For Canada’s technology sector, the deal illustrates how AI capabilities can remain strategically valuable even as the companies developing them face valuations well below their previous funding peaks.

Want to know more? Check out the source code here.