VANCOUVER, BC, May 12, 2026 /CNW/ - Compute is becoming core infrastructure for the AI economy. It is the processing power that allows companies to train models, build products, improve services and compete globally. However, for many Canadian small and medium-sized enterprises (SME), the cost of accessing that compute power remains a major barrier to growth.

Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario, announced support for 44 projects through the AI Compute Access Fund, representing $66 million of the $300 million fund. These companies are working across key sectors of the Canadian economy, including life sciences, health care, energy, advanced manufacturing, agriculture, finance, natural resources and transportation.

This support will help Canadian companies access the compute power they need to build and scale AI products across the economy. These projects show how AI is moving from research into real-world use. Supported companies are developing technologies that can help detect wildfires earlier, improve public transit, accelerate drug discovery, strengthen advanced manufacturing, support agricultural productivity, improve financial services and create new tools for Canadian businesses and workers.

Launched under Canada's Sovereign AI Compute Strategy, the AI Compute Access Fund helps Canadian SMEs offset the cost of high-performance computing. The fund is designed to help companies overcome one of the most significant barriers to AI development, allowing them to build new and improved AI products and services here in Canada.

The program received numerous applications from companies across the country. Applications have been assessed through a competitive process based on technical feasibility, commercialization potential, risk level and anticipated benefits to Canada. Additional funding offers will continue as assessments are finalized.

By helping Canadian companies access the compute power they need, the Government of Canada is supporting homegrown innovation, strengthening Canada's AI ecosystem and helping ensure that more companies, jobs and intellectual property remain rooted in Canada. This support will help create opportunities for high-skilled jobs, strengthen Canadian industries and keep more economic value in communities across the country.

Quotes

"AI is not just a technology of the future. It is already helping Canadian companies solve real problems, improve services, create products and compete globally. But to build with AI, companies need access to compute power. Through the AI Compute Access Fund, we are helping Canadian businesses get the processing power they need to scale, create jobs, transform industries and keep more of the value they create here in Canada."
– The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario

Quick facts

• The call for applications closed on July 31, 2025.
• Of the $66 million highlighted today, $16.8 million will support 8 projects in British Columbia.
• Applications were assessed across key criteria including technical feasibility, commercialization potential, risk level and anticipated benefits.

Associated links

• AI Compute Access Fund
• Program Guide: AI Compute Access Fund
• Canadian Sovereign AI Compute Strategy

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SOURCE Innovation, Science and Economic Development Canada