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Investing.com -- Brookfield Asset Management (TSX:BAM) has announced plans to invest EUR20 billion ($20.66 billion) in the development of artificial intelligence (AI) infrastructure in France.
The New York-based asset manager revealed the investment program at the Artificial Intelligence Action (WA:ACT) Summit in Paris, in the presence of President Emmanuel Macron.
The funds will be allocated towards data centers and other necessary infrastructure sectors required for AI deployment, according to Brookfield. The company’s portfolio firm, Data4, will be at the forefront of this investment, with plans to funnel up to EUR15 billion into data center investment.
Data4, a Paris-based entity, already has an existing objective to construct over 500 megawatts of data center capacity across various regions in France. As part of its latest investment plans, the company aims to triple this capacity by 2030.
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