Canada’s Brookfield Corporation（NYSE: BN） said on Tuesday it is forming a partnership with chip giant Nvidia（NASDAQ: NVDA）to invest in artificial intelligence infrastructure, with a goal to deploy up to $100 billion, in one of the largest bets on the booming technology.
The newly formed Brookfield AI Infrastructure Fund has secured $5 billion in initial capital commitments, with half of it coming from the asset manager’s parent Brookfield Corporation and the other half from Nvidia and the Kuwait Investment Authority, among others, the companies said.
The move underscores the massive funding needed to build the data centers, power plants and other physical assets required to support the widespread adoption of AI. Brookfield estimates that total spending on AI-related infrastructure could top $7 trillion over the next decade.
The fund will focus on investing in “AI factories” – data centers built on Nvidia’s design – as well as dedicated on-site power solutions and compute infrastructure for governments and large companies. Together with Brookfield, we’re building the infrastructure that will power the age of AI, Nvidia Chief Executive Jensen Huang said in a news release.
Brookfield has already identified initial investments, including a plan to deploy up to $5 billion of Bloom Energy’s fuel cell technology into data centers. The companies are exploring sites in Europe for the technology, with an announcement expected by year-end.
Separately, Brookfield is launching a cloud service provider named Radiant, an Nvidia partner that will offer full-stack AI services. Brookfield has also signed deals with France and Sweden to invest up to $30 billion in AI infrastructure in those countries.
Brookfield, which has already invested more than $100 billion in digital infrastructure and clean energy, said the new fund would leverage its expertise in infrastructure and renewable power.
