Brookfield Asset Management has announced a €20 billion (US$20.7 billion) investment in data centers and AI infrastructure in France over the next five years.

This funding will allocate €15 billion (US$16.1 billion) for data center projects through Brookfield’s portfolio company, Data4, and €5 billion (US$5.35 billion) for AI-related infrastructure, including data transfer, chip storage, and energy generation.

This announcement comes as Europe aims to compete with the United States and China in the global AI sector.