New York-based investor Brookfield Asset Management plans to invest $10bn in AI infrastructure in Sweden.
The centrepiece will be an AI data centre in Strängnäs, about 20km west of Stockholm. Brookfield says it will support Sweden’s national AI strategy.
The centre is expected to take between 10 and 15 years to complete. It will require about 750MW in power to run, and will create more than 1,000 permanent jobs. Brookfield said the facility will be the first of its kind in Sweden and one of the first in Europe.
Sikander Rashid, Brookfield European head, added: “To compete in the development of AI and realise its economic productivity, it is important to invest at scale in the infrastructure underpinning this technology. This extends beyond data centres 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.”
Brookfield is one of the world’s biggest investors in the AI value chain, with more than €100bn invested across digital infrastructure, renewable power and semiconductor manufacturing.
In February, Brookfield announced a €20bn investment to support the deployment of AI infrastructure in France, which includes a €10bn investment to create 1GW of capacity, making it Europe’s largest AI infrastructure cluster.
Brookfield has been investing in Sweden since 2018 and has extensive operations across the country, including investments in telecom towers, renewable power, social infrastructure and logistics assets.
Worldwide, Brookfield has around $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit.
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