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Brookfield Asset Management has announced plans to invest up to SEK 95 billion ($10 billion) in Sweden, marking one of its largest European commitments to date. The investment aims to accelerate Sweden’s artificial intelligence (AI) infrastructure and strengthen Europe’s technological autonomy.
At the center of the initiative is the development of a new AI hub in Strängnäs, west of Stockholm—described by Brookfield as the first of its kind in Sweden. The project involves expanding an existing data center, with capacity expected to increase from 300MW to 750MW. The phased buildout, scheduled over the next 10 to 15 years, is projected to create more than 3,000 jobs.
“This investment is about building sovereign compute capabilities to support both public services and private sector innovation,” said Sikander Rashid, Brookfield’s Head of Europe. “To compete in the development of AI, it is important to invest at scale in the infrastructure underpinning this technology.”
Rashid also confirmed in an interview with Bloomberg that Brookfield is in discussions with national and regional grid operators to secure the substantial energy supply the project will require—an increasingly pressing concern as Sweden contends with growing electricity demand and grid constraints.
The announcement aligns with Sweden’s broader push to expand its national AI strategy. Prime Minister Ulf Kristersson welcomed the investment, calling it one of the most significant commitments to AI infrastructure the country has received.
Brookfield, which manages over $1 trillion in global assets, has been active in Sweden since 2018, with investments spanning telecom towers, renewable energy, logistics, and social infrastructure.
This move also forms part of Brookfield’s broader European AI strategy. Earlier this year, the firm unveiled a €20 billion infrastructure investment program in France, including a €10 billion AI “megafactory” project.
The investment comes as AI-related activity across Europe accelerates. Microsoft recently announced a $400 million investment to bolster its AI and cloud computing infrastructure in Switzerland.
