Tech Voices: Canada scraps digital tax, Google fusion power, Oracle

Seeking Alpha’s daily roundup of remarks and statements that could impact the technology sector.

• Canada has decided to scrap a tax on domestic and foreign digital services that would’ve impacted major U.S. tech companies such as Amazon (AMZN), Google (NASDAQ:GOOG) (NASDAQ:GOOGL), Meta (META), Uber (UBER) and AirBnB (ABNB) in order to resume trade talks with the United States.

“Today’s announcement will support a resumption of negotiations toward the July 21, 2025, timeline set out at this month’s G7 Leaders’ Summit in Kananaskis,” Canadian Prime Minister Mark Carney said in a statement released on Sunday.

The 3% tax on domestic and foreign digital services providers, which would’ve been retroactive to 2022, was slated to go into effect on Monday, according to CNBC.

• Meanwhile, the United Kingdom is standing by its 2% digital services tax.

“We have a trade deal with the US,” a senior spokesman for U.K. Prime Minister Keir Starmer told reporters on Monday, according to Bloomberg. “Our position on the digital services tax is unchanged.”

• Alphabet’s Google (NASDAQ:GOOG) (NASDAQ:GOOGL) has announced a deal to acquire 200 megawatts from MIT’s clean fusion power company, Commonwealth Fusion Systems, or CFS. Google added it was also making a second capital investment in the company.

“Fusion holds huge potential as an energy source of the future: it’s clean, abundant, and inherently safe, and it can be built just about anywhere. Commercializing fusion is immensely challenging, and success is not guaranteed. But if it works, it could change the world by providing a more secure and clean energy future,” Google said in a post on its website.

• Oracle (NYSE:ORCL) said in a filing that it expects recent cloud deals to contribute over $30 billion a year to its topline starting in fiscal 2028.

“Oracle is off to a strong start in FY26. Our MultiCloud database revenue continues to grow at over 100%, and we signed multiple large cloud services agreements, including one that is expected to contribute more than $30 billion in annual revenue starting in FY28,” Oracle CEO Safra Catz said in the filing.