Brookfield Makes $1.7 Billion Bet on Power Needs by AI, Data (3)

Brookfield Asset Management agreed to spend $1.7 billion in a deal to expand its US onshore renewables business as the company bets there will be increasing demand for electricity from data centers and artificial intelligence.

The transaction with the UK’s National Grid Plc indicates investors are still confident in robust power consumption growth from technology companies, despite concerns that computing needs may be lower than some expect and that AI such as China’s DeepSeek requires less energy.

The agreement with National Grid gives Brookfield a portfolio of operating projects and others in advanced stages of development. It follows a record-setting ...