Energy security and storage capacity were consistent themes as hundreds of data-centre investment and development enthusiasts converged in Montreal on Wednesday at the inaugural Connect North American Investment in Digital Infrastructure and AI conference.

Panelists traversed through Montreal’s snow-covered streets, after heavy flakes fell Tuesday night, to attend the one-day event at the Allied REIT Meeting Space in the city’s downtown area.

Several panelists emphasized the need to ensure that projects can secure sufficient energy sources and capacity, even in sessions not dedicated to finding solutions for those challenges. Without those issues resolved well ahead of time, many projects will struggle to succeed, participants argued.

But Steven Slavens, a lawyer who moderated a panel discussion on Canadian data sovereignty, took more notice of another prevalent message at the conference.

“For me, I think the main theme is that there’s a lot of opportunity, and that firms that are well set up to pursue those opportunities, bearing in mind some of the challenges, are going to succeed in this space,” said Slavens, counsel with Torys in Toronto, in an interview with Connect.

“I think that there’s a real drive toward building more capacity, particularly focusing on AI, and companies that are in the data-centre space and then the real estate space and in the energy space and infrastructure space ought to be looking here for their next opportunities.”

Slavens supports clients in outsourcing projects, licensing arrangements, co-branding initiatives and supply-and-distribution agreements. He provides legal advice on a wide array of corporate and commercial matters, including sponsorship agreements, blockchain-based services, contest rules, online terms and conditions, marketing initiatives, payments and cards-related matters, mortgage-origination and servicing arrangements. He also offers commercial and technology advice related to clients making public and private acquisitions.

He took the repeated emphasis on the need for stable energy sources and power-capacity capabilities in stride.

“My take is that infrastructure is infrastructure, and that all the pieces have to be there,” said Slavens. “And, that includes power, that includes capital, that includes physical data centres, and includes the expertise to run them.

“And, I think that Canada has a lot going for it in a lot of those areas, but still a lot of work to do.”

Approximately 30 international data-centre and AI infrastructure investment specialists participated in presentations on wide-ranging matters tied to rapidly growing data-centre and AI digital infrastructure demand. Members of public and private organizations alike from Canada, the U.S. and Europe attended the conference.

“It was very interesting to see this alternative real estate asset that’s really both real estate and infrastructure, and have the vocabulary of the market players,” Marie-France Benoit, Avison Young’s director of Canadian market intelligence. “Instead of talking about vacancy rates, we’re all about megawatts and energy.

“It was interesting also to see how political that asset class has become, with the AI-sovereignty goals that most governments now have, and and how it translates. And then the real world, with the data centres, the technology and the use that we’ll make of it.

“We’re talking about also smart infrastructure, that there’s a lot of constraints, and constraints in the area of energy, but the capital is there.

“There are a lot of deep pockets in there,” she added as the conference continued.

The conference also demonstrated that Canada’s data-centre and AI ecosystem is evolving rapidly, said Benoit. She noted that, as the event’s participants indicated, the numerous opportunities have led to architects, commercial real estate brokers, lenders and equity players now specializing in the field.

“So, really, this alternative asset class is going to grow in the future,” she said.

The event provided an opportunity for the sector’s players to network extensively as investment ramps up in the next two years. That was a key draw for Slavens.

“I wanted to come to Connect so that I could bring some colleagues here and meet some great people, speak to them a little bit about data-sovereignty issues and some of the opportunities in the data-centre space, and make sure that I can make some great connections for myself and some colleagues,” he said.

“And, it was perfect for that purpose.”

Pictured: Attendees at the at the inaugural Connect North American Investment in Digital Infrastructure and AI conference in Montreal.

Photo: Monte Stewart. All rights reserved.