Brookfield Asset Management Ltd. (BAM), Tuesday announced a strategic collaboration with Qai, a subsidiary of Qatar Investment Authority, to establish a $20 billion joint venture focused on artificial intelligence infrastructure in Qatar and select international markets.
Both the companies will contribute capital and operating expertise to invest in AI infrastructure in the region, including the development of fully integrated AI facilities, to support the country's rapidly expanding digital and AI ecosystem.
The company intends to finance the investment through the recently launched Brookfield Artificial Intelligence Infrastructure Fund.
In the pre-market hours, BAM is trading at $53.53, up 0.64 percent on the New York Stock Exchange.
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