Brookfield Plans to Invest $9.9 billion to Build AI Data Center in Sweden

On June 4, Brookfield Asset Management Ltd. (NYSE:BAM) announced plans to invest $9.9 billion in building an AI data center in Sweden.

The data center is expected to create 1,000 new permanent jobs and nearly 2,000 jobs over the 10-15 year construction process. The company already owns property at the construction site and is also seeking a land allocation agreement with the local municipality for two years to build the AI center. If the intended plan goes through and conditions are met, the municipality will ideally sell the land to Brookfield for 525 million Swedish crowns.

“To compete in the development of AI and realize its economic productivity, it is important to invest at scale in the infrastructure underpinning this technology,” said Sikander Rashid, head of Europe at BAM.”

Brookfield (BAM) Plans to Invest $9.9 billion to Build AI Data Center in Sweden

A powerful aerial view of the company’s data center, exemplifying the digital services and informatics being offered.

Beyond this, Brookfield has been making significant investments in Europe and revealed plans to dedicate 20 billion euros to AI projects in France earlier this year. The decision to invest in AI data centers in Europe is a major catalyst for BAM, as large technology companies have been ramping up investments in the region.

Brookfield Asset Management Ltd. (NYSE:BAM) is a leading asset manager in renewable power and transition, infrastructure, private equity, credit, and real estate. The company has more than $1 trillion of assets under management across these industries.

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Disclosure: None.