Brookfield Asset Management plans to spend up to 95 billion kronor ($9.9 billion) on an AI data center in Strängnäs, Sweden.

The investment more than doubles a planned 300MW facility to 750MW, with the company planning to purchase 350,000 sqm of additional land in Strängnäs to support the larger data center. Brookfield expects the data center to reach full capacity in 10-15 years.

“We are pleased to extend our partnership with Sweden and support their ambitions to become a leading AI hub in Europe,” Sikander Rashid, Brookfield’s head of Europe, said.

“To compete in the development of AI and realize its economic productivity, it is important to invest at scale in the infrastructure underpinning this technology. This extends beyond data centers and into data transfer, chip storage, and energy generation – today marks another important step for boosting sovereign compute capabilities for both public services and private enterprises in Europe.”

This month, Nvidia announced that it would partner with the Swedish Business Consortium, whose members include AstraZeneca, Ericsson, Saab, SEB, and Wallenberg Investments, to build Sweden’s largest enterprise AI supercomputer. The site of the facility has not been disclosed.

The AI boom has led to a number of large-scale data center investments across Europe.

Canadian-American alternative asset manager Brookfield in February said that it would spend €20 billion ($23bn) on AI infrastructure in France over the next five years.

Its data center business, Data4, increased plans to deploy 500MW by another 1GW in the country.

https://www.datacenterdynamics.com/en/news/brookfield-plans-to-spend-10bn-on-a-swedish-ai-data-center/