Sponsored by Alaska Energy Metals

Canada focuses on AI

Prime Minister Justin Trudeau unveiled a groundbreaking $2.4 billion investment plan this weekend, drawn from the forthcoming budget for 2024, aimed at consolidating Canada’s competitive edge in artificial intelligence (AI).

Among the key initiatives outlined in this investment package is $2 billion directed towards constructing and facilitating access to cutting-edge computing capabilities and technological infrastructure, tailored for Canada’s leading AI researchers, start-ups, and scale-ups.

You can read more on the matter here.

What’s going on?

• Will The Real Owner Of Trump Media Please Stand Up? (theDeepDive)

• Biden’s Student-Loan Plan Seeks to Slash Debt for 30 Million Americans (WSJ)

• Trudeau unveils $2.4 billion package for Canada’s AI sector (BNN)

• Africa’s Food Problem: Zimbabwe, Zambia, Malawi Declare State Of National Disaster (theDeepDive)

• Ottawa to spend $8.1-billion over next five years on defence, with focus on Arctic sovereignty (Globe)

• Synchron, a rival to Musk’s Neuralink, readies large-scale brain implant trial (Reuters)

• PharmaDrug: Biosynthetic Pharma-Grade Cocaine (theDeepDive)

• Faulty inflation forecasts hold Bank of Canada back on rate cuts (BNN)

• Canada’s housing crisis poised to worsen without major reforms, RBC report says (Globe)

• Adam Neumann Bids $500 Million To Get WeWork Back (theDeepDive)

What’s the latest?

• Dental Plan Blunder: The Canadian Dental Care Plan, a $13 billion initiative aiming to provide dental insurance to low- and middle-income Canadians without private coverage, is facing enrollment challenges among dental health providers. Despite opening applications on March 11, Health Canada has not disclosed the exact number of dental professionals who have signed up, only stating that "thousands" have joined. Dentists have indicated they will not offer the program in their clinics due to a lack of detailed information and concerns over the program's administrative demands.

• Mortgage Changes: Prime Minister Trudeau indicated potential changes in the mortgage sector to be revealed in the upcoming budget on April 16, amid discussions about extending the maximum amortization period for insured mortgages beyond the current 25-year limit. This measure could lower monthly payments and broaden market access, particularly for younger buyers in Canada's expensive housing landscape.

• Carbon Capture: The Pathways Alliance, a consortium of Canada's major oilsands companies, remains hopeful about making progress on its $16.5-billion carbon capture pipeline project despite no new commitments expected in the upcoming federal budget. Amid prolonged negotiations with Ottawa and calls for more decisive action towards decarbonizing the oilsands, the alliance is working towards a 32% reduction in emissions from 2019 levels by 2030, contingent on the project's timely progression.

• US Protectionism: U.S. Treasury Secretary Janet Yellen conveyed a stern warning to China, emphasizing that the U.S. will not tolerate the decimation of its new industries by Chinese imports, while referencing the early 2000s "China shock," which resulted in the loss of around 2 million American manufacturing job. Yellen in her comments cited the significant impacts of Chinese overproduction, particularly in sectors like electric vehicles, batteries, and solar panels.

• Neuralink Rival: Synchron Inc, a competitor to Elon Musk's Neuralink, is gearing up for a significant clinical trial to seek commercial approval for its brain implant device. The company, which is further along in testing than Neuralink, plans to launch an online patient registry for the trial, expecting to involve dozens of participants.

$150 Uranium?

The stock market and stuff

• EU’s Anti-Money Laundering Regulation Is Not a Ban on Anonymous Crypto Wallets (theDeepDive)

• U.S. offers TSMC up to $6.6 billion for Arizona factories as Biden pushes for chip security (CNBC)

• Westgold Resources To Acquire Karora Resources To Create Australia-Focused Miner (theDeepDive)

• Blackstone Making $10 Billion Multifamily Purchase, Going on the Real Estate Offensive (WSJ)

• Trump Media stock drops more than 10% to open trading week (CNBC)

In the juniors

• Temas Resources Closes On $1.2 Million In First Tranche Of Financing (theDeepDive)

• Mullen Automotive To Cut $170 Million In Costs Amid Weak EV Market (theDeepDive)

• Fission Uranium To Conduct Two Concurrent Drill Programs At PLS (theDeepDive)

• i-80 Gold Corp To Raise $86 Million At All Time Low Share Price (theDeepDive)

FULL DISCLOSURE: Alaska Energy Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Alaska Energy Metals. The author has been compensated to cover Alaska Energy Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.