Brookfield Asset Management (BAM.TO, BAM) on Monday said it would invest 20 billion euros in artificial intelligence infrastructure in France.
The Brookfield investment, to be deployed across data centers and select infrastructure sectors, will be carried out by 2030, a statement said.
Up to 15 billion euros of data center investment will be led by Brookfield's Paris-based portfolio company, Data4, one of Europe's largest data center developers. Data4, which had planned to build over 500 MW of data center capacity in France, now aims to triple that by 2030. France is projected to be the single largest market for Data4 in Europe, Brookfield said.
A further 5 billion euros is planned for investment in data transfer, chip storage and energy generation.
"We believe France has the potential to play a pivotal role in the global advancement of AI. To achieve European leadership, it is essential to invest proactively in the infrastructure that powers AI services, particularly in data and associated infrastructure," said Sikander Rashid, Head of Europe, Brookfield. "Our 20 billion euros investment program represents a significant step toward this ambition, laying the foundation for France to compete on the global stage."
Brookfield was last seen down US$0.44, to US$57.47, in New York pre-market trading.
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