- Brookfield Asset Management (TSX:BAM) is launching a US$100 billion AI infrastructure program alongside NVIDIA and the Kuwait Investment Authority
- Brookfield is a top global alternative asset manager with over US$1 trillion in assets under management
- Brookfield stock has given back 9.61 per cent year-over-year but remains up by 89.33 per cent since 2020
Brookfield Asset Management (TSX:BAM) is launching a US$100 billion AI infrastructure program alongside NVIDIA (NASDAQ:NVDA) and the Kuwait Investment Authority (KIA).
The program aims to acquire US$100 billion in AI infrastructure assets across the supply chain focused on four verticals:
- AI factories built based on a proven NVIDIA blueprint.
- Behind-the-meter power solutions.
- Compute infrastructure, including solutions for governments and top global businesses.
- Strategic partnerships across the AI value chain grounded in creditworthiness and contracted cash flows.
These efforts will be supported by the Brookfield Artificial Intelligence Infrastructure Fund, launching Wednesday with US$5 billion of a target US$10 billion in equity commitments in place from institutional and industry partners, including Brookfield, NVIDIA and KIA.
Brookfield is one of the largest owner-operators of AI assets, having invested more than US$100 billion to date in clean power and digital infrastructure, most recently highlighted by a US$5 billion agreement with Bloom Energy to install up to 1 GW of power solutions destined for data centers and AI factories.
Brookfield’s Radiant AI cloud service, an NVIDIA Cloud Partner, plans to build the AI factories based on NVIDIA’s DSX reference design, promising clients “the fastest time to revenues,” as per Wednesday’s news release.
Management commentary
“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,” Sikander Rashid, head of AI infrastructure at Brookfield, said in a statement. “This buildout will require US$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,” added Jensen Huang, founder and chief executive officer of NVIDIA. “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/ We’re thrilled that Radiant, Brookfield’s AI cloud service, is building an NVIDIA GPU 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.”
About Brookfield Asset Management
Brookfield is a top global alternative asset manager with over US$1 trillion in assets under management across infrastructure, renewable power and transition, private equity, real estate and credit.
Brookfield stock (TSX:BAM) is up by 0.82 per cent on the news trading at C$70.28 as of 9:48 am ET. The stock has given back 9.61 per cent year-over-year but remains up by 89.33 per cent since 2020.
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