Brookfield Asset Management's CEO, Connor Teskey, announced the company's intention to develop data centers in Canary Wharf, a key financial district in London. He emphasized that AI infrastructure and its energy requirements are now the firm's top priority.
Brookfield, which has a significant global portfolio of data centers, sees a substantial opportunity for AI in the U.K. and Europe, particularly due to the absence of a domestic hyperscaler. The firm has launched an AI infrastructure fund backed by Nvidia and formed partnerships with governments in France and Sweden.
Teskey expressed confidence in the long-term viability of data centers, provided they are built on solid contracts with reputable partners. He identified three major trends—rising energy demand, increased digitalization, and the restructuring of global supply chains—as driving the need for investment in AI infrastructure.
While acknowledging some market volatility, he remains optimistic about the potential for productivity gains from AI, suggesting that this could make investments in the sector highly attractive