Brookfield and Qatar’s Qai partner for USD20b AI investment venture

The news: Brookfield Asset Management (BAM) has teamed up with Qai, a subsidiary of the Qatar investment Authority, to invest in AI infrastructure.

The numbers: A press release shared on Tuesday says that the firms will establish a USD20 billion ($30.12 billion) joint venture to contribute capital and operating expertise to invest in AI infrastructure in Qatar. The project will benefit from strategic support from the Government of Qatar.

The context: BAM said it will invest through its AI fund, which aims to mobilise up to USD100 billion of total investment globally. BAM has been a significant investor in the Guld, with CEO Bruce Flatt saying: “As our inaugural AI infrastructure investment in the Middle East, this partnership combines Qatar’s strategic vision with Brookfield’s global expertise in developing and operating large-scale, mission-critical infrastructure with global partners.”

The statement added that an ‘Integrated Compute centre’ will expand the region’s access to high-performance compute, enabling the deployment of AI technologies. Beyond Qatar, Brookfield and Qai are also exploring opportunities to co-develop and construct AI infrastructure in select international markets.