Brookfield Asset Management is raising a multi-billion-dollar pool to build and buy the physical backbone of artificial intelligence.
The Canadian giant is targeting $10 billion in equity for its inaugural AI infrastructure fund and has already secured half that amount from backers including Nvidia, the Kuwait Investment Authority and its own balance sheet, reports The Wall Street Journal.
With debt financing and investor co-commitments layered on top, Brookfield plans to deploy as much as $100 billion into the sector. The focus spans data centers, dedicated power generation and semiconductor manufacturing.
Most of the capital will go into greenfield projects built from scratch. Brookfield says the aim is to secure and expand energy and compute capacity needed for the rapid expansion of AI workloads.
Early deals are already in motion. The firm recently agreed to a $5 billion partnership with Bloom Energy to deliver power to data centers and is working with France and Sweden to develop national AI infrastructure.
In October, Brookfield, which manages over $1 trillion in assets, projected that $7 trillion in investments would be needed to fund the AI infrastructure buildout. Meanwhile, Blackstone, a $1.21 trillion asset manager, estimated that up to $2 trillion in funding will be needed for data centers globally over the next five years.
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