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Connor Teskey, CEO at Brookfield Asset Management, said the firm has 25 renewable power development companies globally and that some projects originally intended for solar farms can instead be used for data centers when they have valuable grid connections
In sum – what to know
AI drives investment – AI infrastructure is Brookfield’s biggest theme, with a new flagship fund and a program involving $100 billion in capital spending.
Power meets data centers – Brookfield sees opportunities to pivot some renewable projects and logistics sites into data-center uses where power and location are available.
Compute becomes an asset – Brookfield is working with Nvidia on financing structures for a $500 billion compute program, treating chips as a financeable asset class.
AI infrastructure has become a major investment theme for Brookfield Asset Management, with the firm expanding its exposure across data centers, energy, real estate, and new financing structures for compute.
Samuel Pollock, CEO of infrastructure & management and affiliated director at Brookfield Asset Management, said during a presentation at the company’s Investor Day that Brookfield has established a new flagship AI infrastructure fund that it hopes will grow to “many billions of dollars in scale,” while the broader program has involved about $100 billion in capital spending.
Power is another area where Brookfield is expanding its AI-related investments. Pollock said the company has a $25 billion program with Bloom Energy to provide behind-the-meter power solutions to the data-center community, up from $5 billion less than a year earlier.
Brookfield is also looking at how its existing renewable portfolio can respond to data-center demand. Connor Teskey, CEO at Brookfield Asset Management, said the firm has 25 renewable power development companies globally and that some projects originally intended for solar farms can instead be used for data centers when they have valuable grid connections.
Brookfield’s real estate business is pursuing a similar opportunity. Lowell Baron, CEO of the firm’s Real Estate Group, said logistics properties can become data-center sites when they have access to power and are in the right location. Brookfield can either turn those properties into powered land and sell them to another developer or develop them itself.
The firm is also developing a financing role around compute. Pollock said Brookfield is working on a $500 billion program with Nvidia to finance chips, describing the shift as the creation of compute as an asset class.
Bruce Flatt, Brookfield’s CEO, said the company’s role is to determine the appropriate capital structure for those assets and place them into private or public capital markets. He said Nvidia wanted to turn the industry it created into an investment asset class, with Brookfield working on securitization structures.
The relationship with Nvidia extends beyond compute financing. Brookfield said Nvidia is a $2 billion anchor LP investor in its AI infrastructure fund, while Brookfield is also a joint-venture partner with Nvidia and Naver on a gigafactory in South Korea.
Teskey said AI infrastructure is “undoubtedly the biggest theme at Brookfield today,” but stressed that the firm’s exposure extends beyond the dedicated AI infrastructure fund. He said AI is also the biggest driver of Brookfield’s traditional infrastructure and energy businesses.
In an analyst Q&A, Teskey estimated that between 25% and 40% of what Brookfield does around the world has a direct or indirect link to digital infrastructure growth. He also emphasized that digitalization was already a long-term investment theme before the recent acceleration in AI.
