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Brookfield launches $100 billion AI infrastructure program with Nvidia and Kuwait’s sovereign wealth fund as investors and founding partners

Brookfield is launching an Artificial Intelligence Infrastructure Fund with the goal of buying up to $100 billion in (as the name suggests) AI infrastructure assets “across every stage of the value chain — from energy and land to data centers and compute.”

The fund hopes to raise $10 billion in equity, and has already received $5 billion in capital commitments from the parent company, Nvidia, and the Kuwait Investment Authority (the nation’s sovereign wealth fund).

“BAIIF will prioritize investments backed by highly creditworthy counterparties and contracted cash flows,” per the press release.

The four areas of physical infrastructure the fund will focus on are:

• AI factories primarily built on Nvidia’s DSX Vera Rubin-ready reference design;

• Dedicated behind-the-meter power solutions (that is, power generation installed on-site rather than drawing from the grid);

• Compute infrastructure including integrated solutions tailored for governments and leading global enterprises (read: Nvidia GPUs as part of a bundled full-stack offering provided by Brookfield); and

• Strategic adjacencies and capital partnerships across the entire AI value chain (or, anything else in the AI supply chain worth being a part of).

Again, like in Tuesday’s partnership between Anthropic, Microsoft, and Nvidia, there’s a bit of circularity in the deal: Nvidia invests money that will be used to invest in projects that utilize its GPUs.

Brookfield pointed to its recent $5 billion pact with Bloom Energy, which sees the fuel cell company become the preferred on-site power provider for Brookfield’s global AI factories, as an example of a project this fund would look to back.