Brookfield's Rashid Not Surprised by the Selloff in Tech Stocks

• Recent tech market selloff (S&P -2.5%, Nasdaq -4%, Philadelphia Semiconductor Index -10%) is viewed as an expected correction after significant gains, not a major concern for long-term AI infrastructure investment.
• Underlying demand for AI and AI infrastructure (land, power, real estate, data centers, compute) remains 'very strong,' with significant bottlenecks in manufacturing and power supply.
• Brookfield's investments are insulated from speculative AI bubbles, focusing on long-term contracts with highly-rated tech firms and sovereign governments, aiming for returns over 15-30 year horizons.
• Tech giants' capex for AI is projected to grow from $800 billion to $1 trillion, driving demand for infrastructure, and positive ROIs are already being reported.
• Europe and the UK are attractive for AI infrastructure, especially for the 'inference' phase (revenue-generating applications), with France specifically highlighted for its abundant nuclear power and supportive administration, leading to an increased commitment from Brookfield to French AI infrastructure from €20 billion to €30 billion.

Sikander Rashid of Brookfield Asset Management expresses strong long-term conviction in AI infrastructure investments, despite recent tech market volatility. He highlights the robust underlying demand for AI and its foundational components, emphasizing Brookfield's role in building the 'body' of AI infrastructure for major tech firms and governments. Europe, particularly France, is seen as an attractive investment destination for AI inference capacity due to local data sovereignty laws and energy resources.