AI Infrastructure Fund Brookfield Raises $10B with Nvidia and KIA

Brookfield is raising $10B for its first AI-focused infrastructure fund. Nvidia and the Kuwait Investment Authority are key founding investors.
The fund could support up to $100B in projects using co-investments and debt.
Brookfield plans to develop data centers, energy sources, and chip facilities—mostly from the ground up.
The move reflects growing investor interest in AI-related real assets.

Key Takeaways

Brookfield Goes All-In on AI Infrastructure

According to The WSJ, Brookfield Asset Management is making a bold move into artificial intelligence. The firm is raising $10B to build the infrastructure needed to support AI globally. Nvidia and the Kuwait Investment Authority (KIA) are anchor investors in the new fund.

So far, Brookfield has secured $5B. It plans to combine that with additional co-investments and debt. This could give it the firepower to support up to $100B in AI infrastructure.

Where the Fund Will Invest

Unlike many firms, Brookfield plans to focus on greenfield development. That means building from scratch on undeveloped land. The investments will include:

Data Centers: In October, Brookfield signed a $5B deal with Bloom Energy to power AI data centers.
Energy Infrastructure: It’s working with the governments of France and Sweden to build secure, AI-specific power systems.
Semiconductors: The fund will also target the facilities needed to support chip manufacturing and delivery.

The Bigger Picture

Brookfield already manages more than $1 trillion in assets. It is also the world’s largest infrastructure investor. Over the years, it has poured over $100B into digital infrastructure alone.

Now, the firm estimates that AI will require $7 trillion in infrastructure investment over the next decade. Like other asset managers, Brookfield wants to play a leading role in funding that growth.

For example, Blue Owl Capital has already financed massive data centers for companies like Meta and Oracle. AI infrastructure spending is expected to surge further as Nvidia scales up, reinforcing the demand Brookfield is positioning itself to meet.

Why This Strategy Matters

Branded as a long-term play, Brookfield’s strategy follows the success of its $20B energy-transition fund launched in 2022. That vehicle focused on decarbonizing industry and building clean energy assets.

Although some investors fear an AI bubble, others see strong fundamentals. Nvidia continues to be one of AI’s biggest winners—and backers. It has also committed billions to OpenAI and Anthropic.

At the same time, sovereign wealth funds like KIA are ramping up their AI exposure. KIA recently partnered with BlackRock, Microsoft, and Nvidia on another major AI investment vehicle.

What Comes Next

Despite some market volatility, demand for AI infrastructure remains high. Brookfield’s new fund signals growing investor confidence in the physical backbone of AI.

With trillions needed for future growth, more firms are likely to follow Brookfield’s lead. As the AI arms race continues, infrastructure is emerging as one of its most valuable battlegrounds.