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Investing.com -- Brookfield Asset Management (TSX:BAM) on Wednesday announced plans to invest as much as 95 billion Swedish crowns, equivalent to $9.91 billion, in the construction of a data center for artificial intelligence in Sweden.
This project is expected to generate over 1,000 long-term jobs, and an additional 2,000 jobs during the construction phase, which is projected to span 10-15 years.
Ulf Kristersson, the Prime Minister of Sweden, welcomed the announcement on social media platform X.
The company said that this investment is one of its most significant commitments to AI technology in Europe. It also strengthens Brookfield’s partnership with the Swedish government, public authorities, academic institutions, and businesses in the region.
The data center will be located in the city of Strangnas, to the west of Stockholm.