Correct, Montréal is already way way ahead of Toronto on the AI front. Google and Microsoft already invested heavily into Montréal. M$ donated 7 million to UdeM and McGill as well.

UMontreal has Bengio, UofT has Hinton. Toronto also has Google Brain, and many UofT phd students and postdocs have ended up there (Sutskever, Karpathy).