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Canadian Tech in 100 Words

Shopify Surges Past Forecasts with 32% Q3 Growth

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Shopify posted stronger-than-expected third-quarter results, beating its own growth forecast and sustaining solid cash flow amid continued investment in artificial intelligence. The Ottawa-based company reported $2.84 billion USD in revenue, up 32 percent year-over-year, with free cash flow at 18 percent—its ninth straight quarter in double digits.

Gross merchandise value also rose 32 percent to $92 billion, the highest growth rate since 2021. Net income fell to $264 million, reflecting markdowns on equity investments and rising AI and marketing expenses. Despite leadership changes, Shopify expects steady revenue and free cash flow in the fourth quarter as it expands internationally and deepens AI integration.

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

Calgary Cleantech Expands with U.S. Copper Collaboration

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Calgary-based GeologicAI, which raised $60 million in Series B funding in July, has announced a strategic partnership and investment in Edge Copper to advance the Zonia Copper Project in Arizona. The Alberta cleantech’s AI-driven platform uses high-resolution sensors and machine learning to analyze drill core data in real time, improving exploration accuracy and reducing environmental impact.

GeologicAI president Patrick Redmond said the collaboration represents a “natural extension” of the company’s mission to enable high-confidence decisions in mineral discovery. Edge Copper aims to advance Zonia to shovel-ready status within four years amid growing global copper demand.

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

Xanadu to Go Public in Landmark Quantum SPAC Deal

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Toronto-based Xanadu Quantum Technologies will go public through a merger with U.S. special purpose acquisition company Crane Harbor Acquisition Corp., creating the world’s first pure-play photonic quantum computing firm. The combined company will trade on Nasdaq and the Toronto Stock Exchange.

Xanadu, founded in 2016, builds room-temperature quantum computers and is behind PennyLane, an open-source quantum programming platform used by 47 percent of developers globally. CEO Christian Weedbrook said the deal will accelerate development toward a fault-tolerant system by 2029. Xanadu’s clients include Volkswagen, Mitsubishi Chemical, and Rolls-Royce. Financial terms of the transaction were not disclosed.

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Novarc Unveils World’s First Autonomous TIG Welding System

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Burnaby-based Novarc Technologies has launched the world’s first fully autonomous TIG welding solution, a major advance for Canadian manufacturing. The AI robotics firm unveiled its SWR™ TIPTIG Autonomy system at its new headquarters, showcasing artificial intelligence and machine learning that enable unmatched welding precision.

The technology aims to address skilled labour shortages while improving safety and productivity in sectors such as shipbuilding, energy, and clean technology. CEO Soroush Karimzadeh said the system represents a leap forward for industrial automation. Federal officials called Novarc’s innovation proof of British Columbia’s growing leadership in robotics and advanced manufacturing.

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

Belski Dismisses Macklem’s AI Valuation Fears as “Fear-Laden”

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Veteran market strategist Brian Belski is disputing Bank of Canada governor Tiff Macklem’s warning that AI-driven stock valuations are “stretched,” calling such remarks “fear-laden.” Belski, who recently left BMO Capital Markets after 13 years as chief investment strategist, said AI remains early in its growth cycle and should be judged on fundamentals, not hype.

In an interview with The Logic, Belski announced his new advisory firm, Humilis Investment Strategies, based in Naples, Florida. He identified Canada’s banks, Shopify, Dollarama, Aritzia, and Couche-Tard as strong performers, while warning investors against speculative gold trades detached from fundamentals.

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

Law Firms Must Evolve as Clients Redefine Value

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McCarthy Tétrault’s National Leader of Transformation, Matthew Peters, says the legal industry is shifting from precedent to purpose as clients redefine value. Ahead of his panel at Future Lawyer Canada, Peters described how aligning technology, talent, and governance around client outcomes is reshaping law firms.

He warned that the traditional apprenticeship model is eroding as automation replaces foundational training and urged firms to invest in re-skilling and data-driven strategy. Peters emphasized that client satisfaction now depends on measurable performance, not tradition. “We’ve moved past talking about client-centricity,” he said. “Clients are now truly at the centre.”

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

Frustration Mounts as Shopify’s Chatbot Takes Over

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Shopify merchants are voicing frustration over the company’s AI-powered customer service, saying it’s become nearly impossible to reach a human for help. The Logic reports merchants facing repeated chatbot loops despite paying for 24/7 support. Former Shopify employees said layoffs and outsourcing have eroded service quality since 2022, with hundreds of support roles eliminated.

CEO Tobi Lütke has promoted AI as a driver of efficiency, but merchants claim automation has replaced accountability. Shopify maintains that its human agents use AI to “get merchants unstuck faster.” The company’s revenue grew 26 percent in 2024 despite reduced staff.

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

MDA Shares Plunge on SpaceX-Globalstar Sale Speculation

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Shares of Canadian satellite manufacturer MDA Space fell nearly 16 percent Thursday following reports that client Globalstar may be in talks to sell to Elon Musk’s SpaceX. Analysts warned a deal could jeopardize MDA’s $1.1-billion contract to build Globalstar’s low-Earth-orbit satellites, as SpaceX manufactures its own hardware.

MDA said it is monitoring market speculation but does not comment on rumours. The company’s stock closed below $29 on the Toronto exchange. The drop follows a 25-percent decline in September when EchoStar cancelled a $1.8-billion contract after selling spectrum to SpaceX.

Want to know more? Check out the source code on The Globe and Mail.

Canada’s Space Race Heats Up with EDC Funding

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Maritime Launch Services has secured a $10-million senior credit facility from Export Development Canada to advance construction of Spaceport Nova Scotia. The Halifax-based aerospace firm said the funding will support launch pad and infrastructure work for future orbital missions near Canso, 300 kilometres east of Halifax.

CEO Stephen Matier said the partnership demonstrates Canada’s ability to achieve sovereign launch capability. The publicly traded company, founded in 2016, became the first space-related listing on the NEO Exchange in 2022. Maritime Launch is targeting Canada’s first orbital rocket launch, competing with Ontario-based NordSpace’s developing Newfoundland site.

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Ottawa Too Entangled to Cut Ties with Amazon Web Services

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A federal review of Ottawa’s business dealings with Amazon found that cutting ties with the tech giant’s cloud division, Amazon Web Services (AWS), would be expensive, time-consuming, and likely shift contracts to other hyperscalers. The February report, obtained by The Logic, followed Amazon’s closure of seven Quebec warehouses that cut over 4,500 jobs.

It revealed Ottawa’s heavy reliance on AWS, which holds more than 600 government contracts worth over $220 million since 2020. Despite political outrage, the federal government has since awarded AWS an additional $9.7 million in new contracts, including one with National Defence.

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