1201 ET - BCE's new venture into AI infrastructure raises questions about its capex which is already high. TD Cowen's Vince Valentini notes in a report that the first facility is meant to come online in June, which means the capex investment has been under way for some time, and should be embedded in 2025 guidance of roughly C$3.3 billion to C$3.5 billion. "This gives us confidence that BCE knew about the DC project when it recently committed to peak capital intensity of near 14.5% over the next few years," he says. However, there is the chance that it wasn't, and Valentini says "if this is a new J-curve capex investment that will increase the 14.5% guidance, then we would expect a negative reaction from investors." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
May 28, 2025 12:01 ET (16:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。