NASDAQ:XCFG 4 May 2026

June 25, 2026, 12:11 PM EDT. The TSX trades at a discount to the S&P 500 due to heavier exposure to commodities and financials, contrasting with the U.S. index's tech focus. Kelsey Keane, director of equity capital markets at National Bank of Canada, explained this sector split underpins different paths to AI investment. Micron Technology's earnings report revealed memory demand outpacing supply, underscoring the strength of AI infrastructure spending. The growth in AI-related capital expenditure spans utilities, power, electrification, and data centres, benefiting both Canadian and U.S. markets in distinct ways. Diversifying across these markets offers investors exposure to various AI value chain segments while mitigating sector-specific risks.