Brookfield and Qatar launch $20bn AI infrastructure JV
Baku, December 9, AZERTAC
Canadian alternative investment manager Brookfield and Qai, an artificial intelligence firm backed by Qatar’s sovereign wealth fund, have created a joint venture valued at $20 billion to expand AI infrastructure within Qatar and in a selection of overseas markets, according to Funds Global MENA.
The partners said the new venture is designed to help establish Qatar as a major AI centre in the Middle East. A core part of the plan is to build an integrated computing hub that will broaden regional access to advanced, high-performance computing resources.
Qatar Investment Authority (QIA), the nation’s $526 billion sovereign wealth fund, revealed on Monday that it is launching its own national AI company, Qai. The move mirrors strategies by neighbouring countries such as the United Arab Emirates and Saudi Arabia, which are pouring money into AI in an effort to develop global technology hubs outside the United States and China.
Artificial intelligence is rapidly transforming the tech landscape and drawing enormous investment into both software and the physical systems that power it—particularly data centres that handle AI workloads. In April, McKinsey projected that meeting global AI demand could require about $5.2 trillion in data-centre spending by 2030.
Brookfield’s contribution to the venture will come through its newly established Artificial Intelligence Infrastructure Fund, a vehicle the company says could deploy as much as $100 billion worldwide.
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