The new facility will provide approximately 1,000 permanent jobs and an additional 2,000 jobs during the construction period, which is estimated to take 10-15 years.
"The AI center will be the first of its kind in Sweden and one of the first in Europe," writes Brookfield in a press release.
The company, based in Toronto, says it wants to support Sweden as a leading AI hub in Europe.
"To be competitive in AI development and realize its economic potential, it is essential to invest on a large scale in the technology that underlies this," says Sikander Rashid, Brookfield's European chief, in the press release.
Why then Strängnäs?
Rashid motivates the location by saying it is fairly close to Stockholm, "the most revenue-generating region in the Nordic region".
Sweden has clean and stable energy from some of the cheapest renewable energy sources in Europe, mainly from water and wind. It is a geopolitically stable country with strong political support for this development, a predictable regulatory and investment environment, and a fantastic pool of highly qualified talents from schools like KTH and Chalmers, he says to Dagens industri.
The investment company has previously invested in Sweden, including in towers for telecom and renewable energy.
Brookfield announced earlier this year that it is investing over 200 billion kronor in infrastructure, of which over 100 billion kronor is for an AI factory.
