(RTTNews) - Brookfield Asset Management Ltd. (BAM), an alternative asset manager, Wednesday announced the launch of a $100 billion global AI Infrastructure program in association with NVIDIA Corp. (NVDA), and the Kuwait Investment Authority or KIA.
Brookfield will bolster the program with the Brookfield Artificial Intelligence Infrastructure Fund, or BAIIF, with a target of $10 billion in equity commitments to invest in the backbone of artificial intelligence, set to launch on Wednesday.
Notably, BAIIF has already secured $5 billion in capital commitments from a select group of institutional and industry partners, including Brookfield, NVIDIA, and KIA.
BAIIF, together with additional capital from its co-investors and financing, aims to acquire up to $100 billion of AI infrastructure assets, releasing investment across the stages of the value chain from energy, land, data centres and compute.
In the pre-market hours, the BAM shares are trading 0.34 percent higher at $50.06 on the NYSE.
In the pre-market hours, the NVDA shares are trading 1.51 percent higher at $184.14 on the NasdaqGS.
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