Canada Pension Plan Investment Board (CPP Investments), a Canadian Crown corporation, will invest US$ 1.75 billion (CN$ 2.4 billion) to support EQT, a global investment organisation, in its AI infrastructure strategy, which is being developed together with data center operator EdgeConneX. CPP Investments deal is part of its existing portfolio to expand its exposure to digital infrastructure platforms across North America, Asia Pacific, and Europe sectors.
This investment is part of a broader push into digital infrastructure assets tied to demand for cloud computing and AI workloads. The strategy is being led through EQT and its portfolio company EdgeConneX as described in a press release.
“Demand for digital infrastructure continues to accelerate globally, fueled by continued cloud and AI adoption,” said Max Biagosch, Senior Managing Director, Global Head of Real Assets, CPP Investments. “Through this investment alongside EQT, we are increasing our exposure to a sector supported by durable, long-term demand drivers. EdgeConneX’s scaled global platform, strong customer relationships and proven development capabilities position it well to help meet that demand while delivering long-term value for CPP contributors and beneficiaries.”
Since EQT acquired EdgeConneX in 2020, capacity has increased by nearly 20 times with an additional 10 GW in data center development over the coming years.
According to Mordor Intelligence, the Canada Data Center Market is projected to reach US$ 13.06 billion in 2026, rising from US$ 11.46 billion in 2025, with longer-term forecasts indicating a value of US$ 25.09 billion by 2031, reflecting a CAGR of 13.95 percent over 2026–2031. In terms of IT load capacity, the market is expected to expand from 3.13 thousand MW in 2025 to 3.97 thousand MW by 2030, registering a CAGR of 4.89 percent during 2025–2030.
Growth is being driven by hyperscale cloud providers localizing workloads, increasing demand for AI training infrastructure, and data sovereignty regulations that require certain workloads to be processed within Canada. Tier 3 facilities account for a significant share due to their balance of reliability and cost efficiency, while colocation remains the preferred deployment model as enterprises avoid the capital intensity of building in-house data centers.