Sponsored by Cardiol Therapeutics

Ottawa Pledges $13B for Housing Push

Prime Minister Mark Carney launched the Build Canada Homes agency with an initial $13 billion budget to accelerate affordable construction and deliver 4,000 homes across six federal sites, with first builds slated to begin in 2026.

The agency’s first tranche covers six locations—Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton—with site-specific details still pending.

“The core challenge present in the housing market is it’s just too hard to build,” Carney said at a Nepean press conference. He added that departments have been tasked to identify additional federal lands to add to the Canada Land Bank’s 88 properties.

You can read more on the matter here.

What’s going on?

• Major Projects Office’s “Second Wave” Get Business Development Teams (theDeepDive)

• FBI investigating death of Canadian man detained by ICE in Florida (Globe)

• Lion Electric Buses Remain Out of Service as Quebec Extends Safety Reviews (theDeepDive)

• Donald Trump calls for US companies to ditch quarterly reporting (FT)

• CIBC Expects BoC Rate Cut Faster Than US Fed (theDeepDive)

• Economists See Canada Deficit Surging to C$70 Billion on Trade War (Bloomberg)

• China Set To Expand Gold Trade Permits And Remove Usage Caps (theDeepDive)

• Former Prosecutor Maurene Comey Sues Trump Administration Over Her Firing (WSJ)

What’s the latest?

• NVIDIA: China’s market regulator said Nvidia violated anti-monopoly law tied to its 2020 $6.9B Mellanox acquisition, sending Nvidia shares down 2% in premarket trading. The State Administration for Market Regulation (SAMR) cited breaches of conditions attached to the deal but gave no specifics. The probe comes amid U.S.-China trade tensions, with Beijing also launching new semiconductor investigations. Nvidia, which sees China as a key AI and data center market, recently struck a deal with Washington to resume chip sales by giving up 15% of related revenue.

• Real Estate: Canadian home sales hit 40,257 in August, the highest for the month in four years and up 1.9% from 2024. Sales rose 1.1% month-over-month, marking five straight monthly gains and a 12.5% increase since March. The national average home price was $664,078, up 1.8% year-over-year, while listings climbed 8.8% to 195,453. Analysts say demand is improving ahead of a likely Bank of Canada rate cut, though B.C. and Ontario remain more favorable to buyers.

• Markets: Alphabet reached a US$3 trillion market cap for the first time, with shares up 32% year-to-date, far outpacing the S&P 500’s 12.5% gain. A U.S. court ruling allowed it to retain Chrome and Android, easing antitrust concerns, while Q2 cloud revenue surged 32%. Alphabet now joins Apple and Microsoft in the $3T club, trailing Nvidia’s $4.25T valuation. Shares trade at 23x forward earnings, near their five-year average.

• TikTok : The U.S. and China reached a framework deal on shifting TikTok to U.S. ownership, Treasury Secretary Scott Bessent said after trade talks in Madrid. Presidents Trump and Xi are set to discuss final details Friday, just ahead of a looming U.S. ban deadline. China confirmed “basic framework consensus,” though terms remain confidential. A broader trade summit between the two leaders is being planned for late 2025 or early 2026.

• Economics: Canada’s manufacturing sales rose 2.5% in July to $70.3B, led by an 8.6% jump in transportation equipment. Motor vehicles gained 11.4% while parts rose 7.2%, and aerospace climbed 6.5%. Petroleum and coal products sales grew 6.2% to $7.2B. Wholesale sales excluding energy and grains increased 1.2% to $86B.

Why This Silver Run Is Different?

The stock market and stuff

• MEG Energy Tells Shareholders To Ignore Strathcona Resources Revised Offer (theDeepDive)

• Tesla Shares Rise on Elon Musk’s $1 Billion Stock Purchase (WSJ)

• Aris Mining: The Multi Billion Dollar Soto Norte PFS (theDeepDive)

• Alphabet market value exceeds $3tn (FT)

• Artemis Gold To Expand Blackwater To 8 Mtpa Operation By End Of 2026 (theDeepDive)

In the juniors

• Fuerte Metals To Acquire Newmont’s Coffee Gold Project For Up To US$150 Million (theDeepDive)

• New Found Gold: The Strategic Maritime Resources Purchase (theDeepDive)

• Amex Exploration: Revised Perron PEA Has INSANE Economics (theDeepDive)

• First Nordic To Acquire Mawson Finland In $259 Million Transaction (theDeepDive)

FULL DISCLOSURE: Cardiol Therapeutics is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cardiol Therapeutics. The author has been compensated to cover Cardiol Therapeutics 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.