Meta’s $13B Alberta Data Centre: What It Means for Investors

Meta announced Wednesday it will build a $13 billion data centre in Sturgeon County, Alberta, its largest outside the United States and first in Canada. The 1-gigawatt facility will employ 3,000 workers during construction and 300 permanently. Alberta expects $250 million in annual revenue from the project, positioning the province as a key player in the global AI infrastructure race.

Why Meta chose Alberta for its massive data centre

Alberta’s natural gas reserves, cool climate, and skilled workforce made it attractive for Meta’s infrastructure needs. The province passed legislation in late 2024 allowing data centres to generate their own power, removing a regulatory barrier. Technology Minister Nate Glubish said other gigawatt-scale proposals are in development, signalling Alberta’s momentum in the sector.

The $13 billion investment and job creation breakdown

Meta will spend over $13 billion CAD on the facility, built on 1,750 acres north of Edmonton. The company will invest an additional $60 million in local infrastructure improvements including roads and water systems. During peak construction, the project will employ 3,000 workers; once operational, it will create 300 permanent jobs.

How Meta solves the water problem that plagues data centres

Data centres typically consume vast amounts of water for cooling, sparking environmental concerns. Meta’s facility uses a closed-loop, liquid-cooled system with dry cooling technology that eliminates operational water use. Gary Demasi, Meta’s vice-president of data centre strategy, said the project’s annual water use will be less than a typical Alberta golf course.

The power partnership fuelling the data centre

Pembina Pipeline, Morgan Stanley Infrastructure Partners, and Kineticor are building a $4.6 billion natural gas power plant called the Greenlight Electricity Centre to supply the data centre. The facility will generate 932 megawatts initially and can expand to 1.8 gigawatts. This partnership was first announced last year but Meta’s involvement remained undisclosed until Wednesday.

What this means for Meta stock and AI infrastructure spending

Meta is Meta’s 33rd data centre globally, reflecting aggressive capital deployment in AI. Meyka rates META a B+ with a neutral recommendation, citing strong ROE and ROA scores offset by elevated debt and valuation multiples. The stock trades at 21.5x trailing earnings with a 12-month Meyka forecast of $751.79 CAD, suggesting limited upside from current levels near $612 CAD. Analyst consensus remains Buy (2 Buy, 1 Hold), but the massive capex commitment underscores Meta’s bet that AI infrastructure will drive long-term returns.

Final Thoughts

Meta’s $13 billion Alberta investment signals confidence in AI’s growth trajectory and Alberta’s competitive advantages. With Meyka grading META a B+ and forecasting $751.79 within 12 months, the stock reflects the market’s mixed view on whether massive capex will translate to shareholder value.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.