With artificial intelligence continuing to dominate capital markets in 2026, investors are increasingly looking beyond traditional tech stocks. They now recognize the important role that real assets, particularly in mining and real estate, play in supporting AI infrastructure. This shift is driven by substantial government investments and the urgent need for expanded capacity in electricity grids, positioning certain Canadian companies to benefit.
The Canadian government has committed $2 billion to its Sovereign AI Compute Strategy. A significant portion of this funding, $700 million, is designated to attract private sector investments for developing new or expanded data centers. Additionally, plans to double the nation’s electricity grid capacity by 2050 underscore the urgency of enhancing infrastructure to accommodate AI growth.
Three companies are particularly well-positioned to capitalize on this trend: Pan American Silver, Granite REIT, and Lundin Mining. These firms leverage their unique assets to meet the rising demand for resources critical to AI-driven initiatives.
Pan American Silver: Precious Metals and AI
Pan American Silver (TSX:PAAS) is one of the largest silver producers globally and has substantial exposure to gold. The company’s products are key components in electronic manufacturing and power systems, making them highly relevant for AI infrastructure development. The expected upgrades to power infrastructure and electrical grids designed to support AI data centers will significantly boost industrial demand for silver.
In the first quarter of 2026, Pan American Silver reported impressive financial results, with revenue climbing to $1.2 billion, up from $773 million in the same period last year—an impressive growth rate of nearly 49%. Meanwhile, net income nearly tripled to $457 million, up from $169 million. Earnings per share from continuing operations increased from $0.47 to $1.08. The company has also introduced a shareholder return framework aimed at distributing up to US$1 billion in 2026, demonstrating a strong commitment to returning value to investors.
Currently trading at a price-to-earnings ratio of just 18x and offering a dividend yield of 1%, Pan American Silver is well-positioned to benefit from both the rising demand for its industrial products and the geopolitical climate that supports precious metal prices. This combination of industrial utility and safe-haven investment makes it an attractive option for investors.
Granite REIT: The Backbone of AI Infrastructure
Granite REIT (TSX:GRT.UN) is a key player in the real estate sector focused on AI infrastructure. As a real estate investment trust specializing in industrial and logistics properties, Granite holds a diverse portfolio of warehouses and facilities across North America and Europe. The expansion of AI requires not only computing power but also a significant increase in real-economy space, which Granite provides through its properties.
In its latest financial report for the first quarter of 2026, Granite displayed solid growth, with funds from operations (FFO) per unit reaching C$1.57, a year-over-year increase of 7.5%. The same-property net operating income rose by 8.3%, and the adjusted FFO payout ratio slightly increased to 63%, reflecting strong financial health. With an occupancy rate of 97.5%, demand for its properties remains high, highlighting the essential role Granite plays in the evolving AI infrastructure.
Trading at just 14x earnings and offering a dividend yield of 3.8%, Granite REIT presents a stable investment opportunity for those looking to gain exposure to AI-related real asset construction. Even after a 35% increase in share price over the past year, the valuations remain attractive, combining rental income with potential for appreciation.
Looking Ahead
As AI infrastructure continues to expand, the success of companies like Pan American Silver and Granite REIT may indicate a larger shift in investment strategies. With government support and a clear vision for increased capacity and resource allocation, these firms represent a new frontier in the AI economy, where traditional sectors such as mining and real estate become crucial players in supporting technological advancement. Investors are likely to keep a close watch on these hidden champions behind the AI infrastructure boom as they navigate the evolving capital markets.
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