The Globe and Mail reports in its Thursday, Nov. 20. edition that Brookfield Asset Management aims to raise $10-billion for a new artificial intelligence infrastructure fund, attracting Nvidia and Kuwait's sovereign wealth fund as anchor investors.
The Globe's James Bradshaw writes that the Brookfield AI Infrastructure fund has secured $5-billion in commitments from its capital and partners.
Brookfield announced a strategy to establish a $100-billion AI infrastructure fund, aiming to attract co-investments and use "prudent" debt for acquiring assets in land, energy, data centres and computing power.
In recent months, Brookfield told investors it ultimately has plans to invest $200-billion in "AI factories" in North America, Europe and Britain. Chief executive officer Bruce Flatt has said that is likely "just the beginning," and that AI infrastructure could be Brookfield's biggest business within a decade. Brookfield already manages more than $1-trillion of assets, including more than $100-billion invested in renewable energy and digital infrastructure.
In October, Brookfield announced its first deal under the new strategy, agreeing to invest up to $5-billion in fuel cells from Bloom Energy to power data centres.
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