Brookfield Asset Management (BAM) has announced a sweeping investment of up to 95 billion Swedish crowns ($9.9 billion) to develop an artificial intelligence-focused data center in Strangnas, Sweden, reinforcing Europe’s growing prominence in AI infrastructure.
Driven by the surge in AI adoption and stringent data localization requirements within Europe, global tech giants — including Microsoft, Meta, and Alphabet — are choosing Sweden for its robust power grid, high-speed connectivity, and reliable infrastructure.
“Competing in AI requires large-scale infrastructure investments,” said Sikander Rashid, Head of Europe at Brookfield.
The project will not only strengthen AI capabilities in Europe but also generate significant economic benefits locally, with over 1,000 permanent jobs and around 2,000 construction roles anticipated over the next 10 to 15 years. Swedish Prime Minister Ulf Kristersson expressed pride in the project’s location, highlighting its proximity to Stockholm and key academic hubs such as Uppsala and Linköping.
Brookfield, which owns the property, plans to finalize a land allocation agreement with the Strangnas municipality. If conditions are met, the land will be purchased for 525 million crowns; otherwise, ownership reverts to the municipality.
Brookfield earlier announced d plans to invest €20 billion in AI infrastructure in France, aiming to establish Europe’s largest AI cluster. Meanwhile, Nvidia has also stepped in to accelerate AI development in Sweden by offering its next-gen AI data center platform to local enterprises, Reuters news report said.
InfotechLead.com News Desk
