Canada signs letter of intent with AI giant Nvidia during CEO's Toronto trip

Industry Minister François-Philippe Champagne says Canada has signed a letter of intent with artificial intelligence chip giant Nvidia to boost computing power.

In a post on X, formerly known as Twitter, the minister announced the document was signed with the California-based powerhouse, which recently saw the race to innovate with AI push its valuation past the $1.5 trillion mark. 

Neither party revealed the contents of the letter during Nvidia chief executive Jensen Huang's trip to Toronto on Thursday.

“Minister Champagne wants my support to ensure that Canada can have access to leading edge technology so that it could, with necessary funding, build its own infrastructure and I'm very enthusiastic about that,” Huang told The Canadian Press in an interview late Thursday.