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Investing.com -- Today, at the opening of the Artificial Intelligence Action (WA:ACT) Summit in Paris, Brookfield Asset Management (NYSE: TSX:BAM) announced a €20 billion infrastructure investment program. This program, announced alongside French President Emmanuel Macron, aims to support the deployment of artificial intelligence (AI) in France. The investment will be focused on data centers and other infrastructure sectors that are essential for AI deployment.
Data4, a Brookfield portfolio company and one of Europe’s largest data center developers, will lead up to €15 billion of the investment. The company, which is based in Paris, has plans to construct over 500 MW of data center capacity in various regions throughout France. As part of today’s announcement, Data4 aims to triple this capacity by 2030. This expansion will make France the largest market for Data4 in Europe.
Brookfield also plans to invest an additional €5 billion in France. This investment will be directed towards other AI infrastructure, including data transfer, chip storage, and energy generation. The company expects to complete the total €20 billion investment by 2030.
Emmanuel Macron, the French President, expressed his support for the investment. He stated: "The €20 billion investment by Brookfield notably through Data4 will allow France to remain in the race alongside major AI players. This investment demonstrates France’s attractiveness. We have the knowledge, the talents, and the decarbonized energy needed to accelerate in AI. We must not slow down, the world is accelerating. This is a battle for independence."
Sikander Rashid, the Head of Europe at Brookfield, also commented on the investment. He said, “We believe 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 €20 billion 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.”
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