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A.I. Needs Power, Land and Data Centers. Bruce Flatt’s $1 Trillion Brookfield Already Owns Much of It.

From Westinghouse nuclear reactors to a $100 billion A.I. infrastructure program, Flatt and 38-year-old CEO Connor Teskey are pushing Brookfield into every layer of the buildout as Blackstone, KKR and BlackRock race to compete.

“It took us 25 years to be in the right spot,” Bruce Flatt, chairman of Brookfield Asset Management, told investors at the firm’s New York investor day on Sept. 17. He was talking about artificial intelligence. Long before ChatGPT triggered a mad dash for raw compute, Brookfield spent decades building up what has become the physical backbone of today’s A.I. race, from power plants and renewable-energy projects to utilities, industrial businesses and even the nuclear reactor maker Westinghouse.

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The A.I. boom isn’t running on algorithms alone, but needs land, data centers and staggering amounts of electricity. That puts Brookfield, the Wall Street investment giant managing more than $1 trillion, in an unusually advantageous position. Now the firm is pushing into nearly every layer of the A.I. buildout, financing computing equipment, developing sprawling data center campuses and striking multibillion-dollar power deals from France to South Korea.

Connor Teskey, who succeeded Flatt as CEO of the asset management arm in February, was even more direct: “A.I. infrastructure and A.I. is undoubtedly the biggest theme at Brookfield today,” he said. At 38, Teskey is one of the youngest executives to run a firm of Brookfield’s size. Flatt stayed on as chair of the asset manager, a seat previously held by Mark Carney before he entered politics and became Canada’s prime minister.

By Teskey’s estimate, between 25 percent and 40 percent of........

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