Brookfield has teamed up with Qatar’s sovereign wealth fund to establish a $20bn (€17bn) joint venture focused on artificial intelligence (AI) infrastructure in Qatar and other markets.
Infrastructure fund manager Brookfield and Qai, a subsidiary of Qatar Investment Authority (QIA), will provide capital and operating expertise to invest in and develop fully-integrated AI facilities to support Qatar’s digital and AI ecosystem.
Brookfield is investing via its recently launched Brookfield Artificial Intelligence Infrastructure Fund (BAIIF). The asset manager said the partnership “will form a cornerstone of Brookfield’s global AI infrastructure programme”, which aims to mobilise up to $100bn of total investment globally.
Brookfield said the partnership had support from the government and was “expected to play a central role in supporting Qatar’s ambition to become a leading hub for AI services and infrastructure in the Middle East”.
The joint venture will also explore opportunities to develop AI infrastructure in “select international markets”.
Bruce Flatt, CEO of Brookfield, said: “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. Together, we look forward to building an integrated AI ecosystem that will accelerate innovation, deepen regional capability and support the responsible deployment of advanced AI technologies across the Middle East.”
Mohammed Saif Al-Sowaidi, CEO of QIA, said: “QIA has been at the forefront of driving advancement though our AI investments. This joint venture is testament to QIA’s commitment to delivering both local and global impact. Leveraging on the long-term partnership we have with Brookfield, this JV will advance Qatar’s National Vision 2030 and help build a diversified, innovation-based economy for future generations.”
Abdulla Al-Misnad, chairman of Qai, said: “This partnership with Brookfield marks an important milestone in Qatar’s journey to build world-class AI infrastructure and capabilities. By leveraging Brookfield’s expertise in developing and managing critical infrastructure alongside Qai’s mission to deliver trusted AI solutions, we are creating a robust platform to drive responsible AI adoption.
“This collaboration will not only attract investment and top-tier talent, but also strengthen Qatar’s position as a trusted hub for advanced digital technologies in the region and beyond.”
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