In this article, we will discuss the Best AI tech stocks in Canada
The artificial intelligence (AI) sector is already immense, and its rapid expansion shows no signs of slowing. As companies ramp up spending on AI infrastructure, Canadian firms involved in AI technologies and services are well-positioned to benefit. This trend presents compelling opportunities for investors looking for high-growth potential. Among the most promising Canadian AI-related stocks are Celestica and CGI can be considered as the Best AI tech stocks in Canada, both of which are strategically placed to thrive in this evolving landscape.
Celestica (TSX:CLS)
Celestica stands out as one of Canada’s most promising AI-related stocks, with its core strengths in design, manufacturing, hardware platforms, and supply chain solutions. The company is reaping the rewards of rising demand driven by AI-powered data center investments, which have propelled its financial performance and stock value significantly.
Over the past year, Celestica shares have surged over 103%, and over a three-year period, they’ve gained an impressive 790%. Despite a recent dip linked to broader macroeconomic concerns, the company’s long-term growth outlook remains strong.
Celestica’s growth is fueled primarily by its Connectivity & Cloud Solutions (CCS) segment, where demand from Hyperscaler clients is driving sales of its networking products within its Hardware Platform Solutions (HPS) division. The company is already experiencing strong momentum with its 400G networking switches and is gearing up to launch its next-generation 800G switches, which are expected to further boost sales.
As AI adoption accelerates and the cost of training AI models continues to fall, demand for high-performance networking hardware—like Celestica’s high-bandwidth, low-latency switches—is expected to climb. The company’s recent announcement of two major customer program wins highlights its growing role in AI system design and reinforces its position as a key player in AI infrastructure solutions.
With robust customer demand, a healthy product pipeline, and ongoing expansion in AI infrastructure, Celestica is well-positioned to deliver continued financial growth and long-term stock appreciation.
CGI Inc. (TSX:GIB.A)
CGI is a top-tier IT and business consulting company that is making strategic moves to expand its AI capabilities. The firm is embedding AI and Generative AI (GenAI) into its proprietary solutions, consulting practices, and managed services offerings. These innovations are helping CGI deliver more value to clients, boost productivity, and unlock new growth opportunities. CGI Inc. ranks 2nd on our list of the Best AI tech stocks in Canada.
CGI is actively working with clients to create industry-specific AI applications, establish AI factories, and enhance user experiences. These initiatives are yielding results, as seen in its expanding pipeline of AI-driven projects and strong client commitments.
The company’s recent bookings surpassed $4.1 billion, reflecting a book-to-bill ratio of 109.8%, with a trailing 12-month ratio of 107.8%. As of the end of 2024, CGI’s backlog reached $29.76 billion—an indicator of its strong long-term revenue potential.
In addition to its AI initiatives, CGI is pursuing a robust acquisition strategy to broaden its technological capabilities and expand its client reach. This dual focus—on organic AI-driven growth and strategic acquisitions—positions CGI for sustained success in the years ahead.
With a growing foothold in AI solutions, a healthy project pipeline, and a history of delivering strong financials, CGI is a solid choice for investors seeking exposure to the AI revolution.
Shopify (TSX:SHOP)
Shopify (TSX:SHOP) has established itself as a powerhouse in the e-commerce sector. It offers a versatile platform that empowers businesses of all sizes to launch and manage their online stores. The company has rapidly risen to become a dominant force in the digital retail space.
More recently, Shopify has been expanding into the artificial intelligence (AI) arena, leveraging the technology to enhance the online selling experience for its users. One of its standout AI tools is Shopify Magic, which helps merchants generate product descriptions, marketing content, and promotional materials using AI-driven capabilities. This tool makes store setup and management more efficient, especially for small and medium-sized businesses.
Shopify’s core strengths—its robust e-commerce infrastructure and integrated payment solutions—continue to attract a growing user base. With the added advantage of AI, the company is positioned to offer even greater value to its clients by streamlining workflows and improving conversion rates.
Shopify is one of the best AI tech stocks in Canada, which looks to gain exposure to both the e-commerce and AI growth stories. It remains a strong contender for a self-directed investment portfolio focused on future-ready businesses.
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