Brookfield Pledges Up to $10 Billion for AI Data Center in Sweden

Published: 2025-06-04 06:04:07 ET BAM

Published on 06/04/2025 at 06:04

By Mauro Orru

Brookfield Asset Management said it would invest up to 95 billion Swedish kronor ($9.87 billion) into an artificial-intelligence data center in Sweden, doubling down on efforts to secure the infrastructure needed to power the technology.

The New York-based asset manager said the AI investment, one of its largest in Europe, would go toward a large data center in Strangnas, some 50 miles west of Stockholm. Brookfield agreed to sign an agreement for roughly 3.77 million square feet of land to host the facility, for which construction will take 10 to 15 years.

"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," Sikander Rashid, Brookfield's head of Europe, said.

Swedish Prime Minister Ulf Kristersson welcomed the move in a post on X, saying the data center would be one of the largest of its kind in Europe.

The investment pledge comes months after the company outlined an infrastructure investment program in France to the tune of 20 billion euros ($22.74 billion), including 10 billion euros for an AI factory in the country.

Brookfield's growing spending commitments underscore efforts from the asset manager to secure key infrastructure needed to power AI and not fall behind tech giants that have been pouring billions of dollars into data centers since the debut of OpenAI's ChatGPT ushered in a spending bonanza.

Microsoft in October unveiled plans to spend about $4.75 billion over the next two years in cloud and AI infrastructure in Italy.

Amazon.com said in June that it was planning to invest 17.8 billion euros through 2040 to expand its logistics network and cloud infrastructure in Germany. The e-commerce giant also laid out plans to invest 15.7 billion euros over the next decade to expand its cloud services in Spain.

Write to Mauro Orru at [email protected]

(END) Dow Jones Newswires

06-04-25 0603ET