*

To create more than 1,000 permanent jobs, 2,000 temporary

jobs

*

Data centre to be in the Swedish city of Strangnas

*

Municipality to sell land only if all condition are met

(Adds context in paragraph 2, BAM's investment in 3, BAM

comment in 4, Swedish PM comment in 6, details on investment in

7-9)

By Supantha Mukherjee

STOCKHOLM, June 4 (Reuters) - Brookfield Asset

Management ( BAM ) plans to invest up to 95 billion Swedish

crowns ($9.9 billion) to build a data centre for artificial

intelligence in Sweden, the Canadian company said in a statement

on Wednesday.

Increased use of AI and requirements to host data within

Europe have led to a boom in data centres on the continent, with

companies such as Microsoft ( MSFT ), Meta and Alphabet

choosing Sweden for their sites due to its reliable

electricity supplies, connectivity and infrastructure.

BAM has been investing heavily in Europe and earlier this

year laid out plans to invest 20 billion euros to develop AI

projects in France, making it Europe's largest AI infrastructure

cluster.

"To compete in the development of AI and realize its

economic productivity, it is important to invest at scale in the

infrastructure underpinning this technology," said Sikander

Rashid, head of Europe at BAM.

BAM said its data centre in the Swedish city of Strangnas,

west of Stockholm, would create more than 1,000 permanent jobs

and around 2,000 jobs during a 10-15 year construction process.

"I find it especially exciting that it is in my hometown,"

Swedish Prime Minister Ulf Kristersson said on X, welcoming the

announcement.

The site is not only close to the capital Stockholm, but

also other university towns such as Eskilstuna, Västerås,

Linköping and Uppsala.

BAM already owns a property at the site and is looking to

sign a land allocation agreement with the municipality to plan

for two years to build the AI centre.

If the conditions for an AI centre are in place, the

municipality will sell the land to BAM for 525 million crowns,

but in the event of unmet conditions, the land will return to

the municipality, Strangnas municipality said.

Beyond building data centres, chipmaker Nvidia ( NVDA ) said

last month it would provide its latest generation AI data centre

platform to a group of Swedish companies to develop AI

infrastructure in Sweden.

($1 = 9.5845 Swedish crowns)