And it’s not just FAANG. Silicon Valley seems to have discovered that Canadian universities churn out a lot of skilled graduates - many who come from third countries via generous student visas. Many valley based startups have opened offices in Vancouver, Toronto, etc. and are paying great salaries not much removed from valley pay levels.
And despite rhetoric to the contrary the current administration seems intent on upholding these changes - processing for H-1Bs is still nowhere near historical norms.
It used to be that major tech cos would "park" people in Canada to wait for their US visas to clear. I suspect these changes are causing companies to rethink the "wait for US visas" part of the sentence. The more people FAANG parks in Canadian cities the more we will see FAANG-type compensation in those cities.