UAE to invest up to $50 billion in Canada

The United Arab Emirates announced Friday that it plans to invest up to $50 billion in Canada, under a new strategic framework that prioritizes major projects in artificial intelligence, energy, and mining, signaling one of the most ambitious expansions of Emirati capital into North America.

The investment plan reflects Abu Dhabi’s accelerating push to expand its global energy footprint, notably through XRG, the newly launched foreign investment arm of ADNOC. The UAE is increasingly positioning itself as a major international player in next-generation energy technologies and critical mineral supply chains.

Alongside energy, the Emiratis are doubling down on artificial intelligence. The UAE is currently building what officials describe as one of the world’s largest data-center hubs, powered largely by U.S. technology and driven by the country’s influential AI champion, G42. The state-aligned tech conglomerate is spearheading the country’s efforts to develop sovereign AI capabilities and expand partnerships abroad.

The announcement came on the sidelines of a visit to Abu Dhabi by Canada’s newly appointed Prime Minister Mark Carney, who met with senior Emirati officials to discuss technological cooperation, energy security, and diversification of supply chains.

In its statement, the UAE Ministry of Investment said the agreement establishes a long-term framework aimed at “mobilizing large-scale capital across strategic sectors essential for the global economy of the future.”

The initiative marks a deepening of UAE–Canada ties at a moment when both countries are seeking to strengthen access to critical minerals, expand renewable and low-carbon energy projects, and attract world-class AI talent and infrastructure.