Brookfield Targets $10 Billion for AI Fund in Nvidia Pact - Bloomberg

Brookfield Targets $10 Billion for AI Fund in Nvidia Pact - Bloomberg

Brookfield Asset Management Ltd. is targeting $10 billion of fund commitments for a global artificial-intelligence infrastructure program in partnership with Nvidia Corp. and the Kuwait Investment Authority.

New York-based Brookfield said it will anchor the program with the Brookfield Artificial Intelligence Infrastructure Fund, which launches Wednesday. BAIIF has already received $5 billion of capital commitments from institutional and industry partners, including Brookfield, Nvidia and the Kuwait Investment Authority, according to a statement Wednesday.

BAIIF plans to acquire as much as $100 billion of AI assets using co-investments and leverage, with purchases across energy, land, data centers and other parts of the infrastructure chain. Last month, Brookfield agreed to invest as much as $5 billion to deploy Bloom Energy Corp.’s fuel cells at new data centers, marking its first investment through the new strategy.

Brookfield, which manages about $1 trillion of assets, is among the key players providing private capital in the AI build-out, and has estimated that it will cost $7 trillion to build AI infrastructure over the next decade.

BAIIF will focus on investing in the physical infrastructure assets that underpin the delivery of AI, including factories, dedicated behind-the-meter power solutions and compute infrastructure, according to the statement.

Nvidia has made significant investments in AI over the past few months, including agreeing to invest as much as $15 billion in Anthropic and around $100 billion in OpenAI.