Meta reportedly near deal for AI data center in Alberta

Meta Platforms, Inc. is reportedly nearing an agreement with Pembina Pipeline Corp. to build a new artificial intelligence data center in Alberta, Canada, according to a report by The Logic on Friday, Azernews reports.

The Logic noted that Pembina is expected to partner with Kineticor, a Canadian power generation company, to supply natural gas-fired electricity for the facility.

While the final terms are still under negotiation, sources say a regulatory framework announcement could come as early as today, pending approval.

Following the report, shares of Pembina Pipeline surged 5.54% as of 2:22 p.m. ET during Friday’s trading session.

If confirmed, the deal would mark a significant expansion of Meta’s AI infrastructure and a noteworthy crossover between tech and traditional energy sectors in Canada.