When the Corporation Is the Regulator (opens in new tab)

When Brad Smith, Microsoft's vice chair and president, stood before cameras in December 2025 to announce his company's largest ever commitment to Canada, he did not simply unveil an infrastructure deal. He outlined a blueprint. The C$19 billion investment, spanning 2023 to 2027, with more than C$7.5 billion (approximately US$5.4 billion) earmarked for the next two years alone, was wrapped in the language of sovereignty, trust, and governance. Smith called it “the most robust digital sovereign...