Brookfield to Invest $10 Billion Building AI Hub in Sweden (1)

Brookfield Asset Management plans to invest up to 95 billion kronor ($9.9 billion) developing artificial intelligence infrastructure in Sweden that will take 10 to 15 years to construct.

The New York-based asset manager plans to purchase additional land at a site in Strangnas — some 55 miles west of Stockholm — that will eventually house a 750-megawatt data center, more than doubling its previous plan, according to a statement on Wednesday. The so-called AI factory will be the first of its kind in the Nordic nation, Brookfield said.

“Building AI hubs in Europe will ensure the continent can compete on ...