FINANCE
“ Energy demand is growing fast, driven by the growth of AI as well as electrification in industry and transportation,” says Connor Teskey, President of Brookfield Asset Management.“ Against this backdrop we need an‘ any and all’ approach to energy investment that will continue to favor low-carbon resources.” The demand Connor describes increasingly wears one face, and it is a data centre. Brookfield has agreed to supply Microsoft with more than 10.5GW of clean power between 2026 and 2030, one of the largest corporate renewables deals ever struck. Then it went further, teaming up with America’ s biggest utility, NextEra, on a US $ 100bn artificialintelligence and energy complex rising on a former nuclear-weapons-enrichment site in Paducah, Kentucky. It is the first slab of Brookfield’ s far larger push into AI infrastructure, on top of the US $ 80bn deal Brookfield struck last year to help the US government build a fleet of nuclear reactors.“ AI infrastructure is the single largest theme, bar none,” Connor says.“ Trillions of dollars are needed to develop data centres, telecom towers, fibre … and, of course, power supply and transmission, all at a time while governments and traditional capital sources remain constrained.” One company, and every strand of the thesis: record fundraising, record earnings and an AI boom that has become green energy’ s most voracious customer.
We use the energy once for AI, and then again to heat people’ s homes
Andrey Korolenko Chief Infrastructure & Product Officer Nebius
94 September 2026