Brookfield Asset Management announced up to SEK 95 billion ($10 billion) of investment to support the development of artificial intelligence (“AI”) infrastructure in Sweden. This investment represents one of Brookfield’s most significant AI investments in Europe, extending the partnership with the Swedish government, its public authorities, academia, and businesses in the region.
Brookfield’s investment will be centered on a new large AI center in Strängnäs, Sweden, creating a strategic infrastructure asset to support the country’s national AI strategy. And Brookfield will sign a land allocation agreement for approximately 350,000 sqm of additional land, enabling the data center site to more than double its capacity from 300 MW to 750 MW. This new site will create over 1,000 new permanent jobs and add another 2,000 jobs to support the 10-15 year construction process. The facility will be the first of its kind in Sweden and one of the first in Europe.
Brookfield is recognized as one of the world’s largest investors in the AI value chain, with over €100 billion invested across digital infrastructure, renewable power, and semiconductor manufacturing worldwide. Earlier this year, Brookfield announced a €20 billion infrastructure investment program in France, which includes a €10 billion investment in the country’s first AI factory. This site will create 1GW of new capacity, making it Europe’s largest AI infrastructure cluster.
Brookfield has been actively investing in Sweden since 2018, and it has extensive operations across the country, including investments in telecom towers, renewable power, social infrastructure, and logistics assets.
KEY QUOTES:
“We are pleased to extend our partnership with Sweden and support their ambitions to become a leading AI hub in Europe. 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. This extends beyond data centers and into data transfer, chip storage and energy generation – today marks another important step for boosting sovereign compute capabilities for both public services and private enterprises in Europe.”
Sikander Rashid, Head of Europe, Brookfield
