Here’s what happened in tech yesterday.

1. Shopify grows 32 per cent but misses on revenue

Shopify’s third-quarter revenue rose 32 per cent to $3.74 billion USD (about $5.23 billion CAD), just under analysts’ expectations of $3.75 billion to $3.77 billion USD, BetaKit reports. Bloomberg called it the company’s first revenue miss in four years. Net income was $462 million USD (about $646 million CAD), up 75 per cent. Shares fell as much as 9 per cent at the open before recovering some ground. President Harley Finkelstein said the company “delivered exactly what we said we would,” and that shoppers had started trying “delegated purchasing through personal agents.”

Why it matters: Growth is still strong, and Shopify expects revenue to grow in the low 30s per cent again this quarter. But a rare miss shows how little room investors give it. Read the full story

2. Hydro-Québec expects a power shortfall from 2029

Hydro-Québec now expects an electricity deficit starting in 2029 and says it will need imports from neighbouring provinces and states to cover it for a while, Radio-Canada reports. It forecasts demand rising by 60 terawatt-hours to 240 TWh by 2041 and plans about $200 billion in new supply and infrastructure by 2035. Vice-president Dave Rhéaume said Quebec is no longer actively seeking data centres, and that nuclear power isn’t on the table for now.

Why it matters: It’s the backdrop to Hydro-Québec’s push to roughly double what large data centres pay. Read our feature on who pays for AI’s power

3. A First Nation takes Alberta to court over the Wonder Valley data centre

Sturgeon Lake Cree Nation has filed three judicial reviews against the Alberta government over Wonder Valley, the proposed $70-billion, 7.5-gigawatt data centre campus near Grande Prairie backed by Kevin O’Leary, CTV News reports via BNN Bloomberg. They challenge the project’s water licence, the province’s decision to exempt it from an environmental impact assessment, and the level of consultation. Technology Minister Nate Glubish says data centres get no exemptions and are well-understood projects. O’Leary Digital says it doesn’t expect the cases to affect its timeline.

Why it matters: The water licence case is set to be heard in December. Alberta has bet heavily on data centres, and this is the biggest legal test so far.

4. Toronto’s Ada to combine with Dialpad

Toronto AI customer service company Ada has agreed to combine with Dialpad, a larger contact-centre software company in the San Francisco Bay Area, in an all-share deal worth about $600 million (about $430 million USD), The Globe and Mail reports, citing two people familiar with it. Ada was valued at $1.2 billion USD during the pandemic and has cut staff this year.

Why it matters: The deal values Ada at well under its pandemic peak, a sign of how hard it is for early AI customer service companies to compete now.

5. Binance explains how it was robbed

Binance says the attackers behind last week’s theft of about $6.34 billion USD got in through a fake job interview: a Binance engineer approached on a real job-hunting site was sent an “assignment” file that installed malware, Engadget reports. From there, the attackers used an internal AI tool to take over other engineers’ computers before draining wallets on Oct. 29. Binance says it has frozen $2.85 billion USD and replenished 98 per cent of the affected tokens. Read our earlier story

Why it matters: The lesson applies well beyond crypto. If a recruiter asks you to run code or open a project file as part of an interview, especially on a work computer, stop and check.

6. More Rewards offers two years of free credit monitoring

Save-On-Foods’ More Rewards program is offering members affected by its October breach 24 months of free TransUnion credit monitoring, iPhone in Canada reports. Activation codes arrive by email by Friday, Nov. 6, from @morerewards.ca or @mail-morerewards.ca addresses, and must be redeemed at mytrueidentity.ca by Feb. 28, 2027.

Why it matters: Sign up, but be careful: scammers often copy breach notices. Check the sender’s address, and type mytrueidentity.ca yourself instead of clicking.

7. Google cuts off a botnet hiding in 1.3 million TV boxes

Google, Japanese police and security firms have shut down X.CPE, a botnet of more than 1.3 million Android set-top boxes in over 200 countries, The Record reports. Google tied it to Videostrong, a Chinese device maker, and has banned the company from making certified Android devices, Google says.

Why it matters: Google says the takedown should leave infected boxes harmless, but it hasn’t said whether owners will be told. Google advises buying set-top boxes only from reputable makers, and keeps a list of certified Android TV partners to check against.

One more thing

NASA’s Swift space telescope was expected to fall back to Earth around 3:30 a.m. ET today, give or take 11 hours. Any surviving pieces can only land near the equator, far from Canada. Here’s what Swift did in its 22 years.

That’s the briefing. See you tomorrow.