Brookfield to Invest Over $20 Billion in French AI

Close on the heels of the UAE’s plans to invest over $32 billion French AI sector last week, leading global asset management firm Brookfield Asset Management on Monday announced a $20.63 billion investment to support the deployment of artificial intelligence (AI) infrastructure in France.

France has already announced a $112.5 billion investment in AI over the coming years, aiming to strengthen its technological infrastructure.

Brookfield, which manages over $1 trillion assets, unveiled the latest plans together with French President Emmanuel Macron at the opening of Artificial Intelligence Action Summit in Paris this morning. The Brookfield investment will be targeted across data centers and associated infrastructure sectors which are vital for AI deployment.

The Canadian investment giant said that up to $15.47 billion of data center investment will be led by its portfolio company, Data4, one of Europe’s largest data center developers, headquartered in Paris.

Data4 has existing plans to build over 500 MW of data center capacity located across several regions in France, with an ambition to triple that by 2030 as part of today’s announcement. With this, France is projected to be the single largest market for Data4 in Europe.

The investment of a further $5.16 billion is planned by Brookfield in France across associated AI infrastructure such as data transfer, chip storage and energy generation. The total $20.63 billion investment is projected to be delivered by 2030.

France in Global AI Race

Welcoming the investment by Brookfield, Emmanuel Macron said that the investment through Data4 will allow France to remain in the race alongside major AI players.

He added: “This investment demonstrates France’s attractiveness. We have the knowledge, the talents, and the decarbonised energy needed to accelerate in AI. We must not slow down as the world is accelerating. This is a battle for independence.”

Sikander Rashid, Head of Europe, Brookfield, said that France has the potential to play a pivotal role in the global advancement of AI. To achieve European leadership, it is essential to invest proactively in the infrastructure that powers AI services, particularly in data and associated infrastructure.

“Our investment program represents a significant step toward this ambition, laying the foundation for France to compete on the global stage. We are excited to collaborate with stakeholders across France and are looking to expand our investment in data centers to an even greater scale in the future,” he added.

Brookfield is one of the world’s largest investors in the AI value chain, with more than $154.7 billion invested across digital infrastructure, renewable power and semiconductor manufacturing worldwide.

Last year, Brookfield and Microsoft announced the largest ever renewable power supply deal, underpinning more than $10.31 billion of investment to supply Microsoft’s business activities in Europe and North America. In 2022, Brookfield and Intel entered into a $30.94 billion partnership for the development of Intel’s landmark semiconductor foundry in Arizona.

Brookfield has been actively investing in France since 2015 and opened an office hub in Paris to support the firm’s existing and future investments in France in 2024. Brookfield’s French portfolio includes investments in residential decarbonisation, student and young professional living, hospitality, and logistics, as well as digital and renewable energy infrastructure.

Brookfield invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. It also offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.