Mr. Sikander Rashid reports

BROOKFIELD LAUNCHES $100 BILLION AI INFRASTRUCTURE PROGRAM

Brookfield Asset Management Ltd. has launched a $100-billion global AI (artificial intelligence) infrastructure program in partnership with NVIDIA and the Kuwait Investment Authority (KIA).

Brookfield will anchor the program with the Brookfield Artificial Intelligence Infrastructure Fund (BAIIF), which launches today with a target of $10-billion of equity commitments to invest in the backbone of AI. BAIIF has already received $5-billion of capital commitments from a select group of institutional and industry partners, including Brookfield, Nvidia and KIA.

BAIIF, together with additional capital from its co-investors and prudent financing, will acquire up to $100-billion of AI infrastructure assets, deploying investment across every stage of the value chain -- from energy and land to data centres and compute.

As one of the world's leading owners and operators of AI infrastructure assets, with over $100-billion already invested in digital infrastructure and clean power, Brookfield is uniquely positioned to deliver integrated infrastructure solutions and critical services required to power the next generation of AI.

Sikander Rashid, head of AI infrastructure at Brookfield, said: "AI is creating one of the largest infrastructure buildouts in history, comparable to the formation of the modern power grid and global telecom networks, but unfolding at a far greater pace and significantly larger scale. This buildout will require $7-trillion of capital in the next 10 years across the entire AI value chain, including power, compute, data centres and beyond. We are thrilled to formally launch our dedicated AI program in partnership with Nvidia and others to deliver this infrastructure at speed, at scale and to the highest standard for enterprises, technology firms and sovereign governments."

"AI is transforming every industry, and, like electricity, it will require every nation to build the infrastructure to power it. AI infrastructure demands land, power and purpose-built supercomputers -- and our partnership with Brookfield brings all of these elements together in a ready-to-deploy AI cloud," said Jensen Huang, founder and chief executive officer of Nvidia. "We're thrilled that Radiant, Brookfield's AI cloud service, is building an Nvidia GPU [graphics processing unit] cloud based on the Nvidia DSX blueprint to deliver Vera Rubin-ready AI infrastructure -- fast to deploy and designed to scale with the world's growing intelligence needs."

Investing in the infrastructure underpinning the growth of AI

BAIIF will focus on investing in the physical infrastructure assets that underpin the delivery of AI across four verticals: AI factories primarily built on Nvidia's DSX Vera Rubin-ready reference design; dedicated behind-the-meter power solutions; compute infrastructure, including integrated solutions tailored for governments and leading global enterprises; and strategic adjacencies and capital partnerships across the entire AI value chain. BAIIF will prioritize investments backed by highly creditworthy counterparties and contracted cash flows.

Seed investments

Brookfield recently secured a seed AI infrastructure investment for the fund with the announcement of a $5-billion framework agreement with Bloom Energy to install up to one gigawatt of behind-the-meter power solutions for data centres and AI factories. Brookfield is launching Radiant, a new Nvidia cloud partner, to provide full-stack AI services leveraging Brookfield's access to scaled infrastructure, including land, power and data centres around the world. Radiant will build AI factories based on Nvidia DSX reference design to offer the fastest time to revenues and provide direct support to Brookfield's sovereign AI programs. Brookfield has also announced landmark partnerships in France and Sweden to support their national AI ambitions with up to $30-billion of combined AI infrastructure investment.

About Brookfield Asset Management Ltd.

Brookfield Asset Management is a leading global alternative asset manager, headquartered in New York, with over $1-trillion of assets under management across infrastructure, renewable power and transition, private equity, real estate, and credit. The company invests client capital for the long term, with a focus on real assets and essential service businesses that form the backbone of the global economy. The company offers a range of alternative investment products to investors around the world -- including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors. The company draws on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

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