???: ????? ??? ??? ???
2026? ?? ??
- ????, ????, ?????? ?????? ??? ??? ?????????? ???, ??? ??? ??? ??? ?? ????? ????.
- ????(AI)? ??? ??? ??? ???? ?? ??? ?? ?????? ??? ???, ?? ?? ? ?? ???? ?? ??? ????????????.
- ?????? ???? ??? ?????, ??? ??? ? ?? ?? ?????? ??? ? ????.
2026?? ???? ??, ??? ??? ??? ? ?? ??? ????. ?????? ?? ?? ?? ?? ?? ???? ????? ????, ??? ????,????, ?????? ??? ??? ??? ???? ? ????. ? ????????? ??? ?? ??? ???? ??? ??? ?? ???? ????? ???? ????? ???, ?? ??? ??? ?? ??? ??? ??????? ????.
??? ?????
???? ??? ??? ??·?? ???? ?? ??? ??? ???? ???? ???·?? ???? ?????, 2040??? ? ?? ??? ?? ??? 100? ??? ??? ??? ?????.?
2025??? ?? ?? ??? ?????, ??? ???? 2026??? ??? ??? ?????. ?? ???, ?? ?? ?????? ?? ?? ??? ????? ????? ?? ??? ?? ??? ???? ????? ??? ?? ??? ??? ??? ???, ???? ??? ????? ????? ????.
Owning Change in a Transforming World
This piece is included in our 2026 Investment Outlook Report, which is anchored by insights from the CEOs across our global platform.
???? ??
????(AI)? ??? ???? ????? ??? ?? ??? ?? ??? ???? ????. ? ?????? ??? ?? ??? ?? ??? ???, ?? ????? ?? ??? ??? ??? ????. ?????(AGI)? ?? 10?? ?? 10? ?? ??? ??? ??? ?? ? ???, ? ???? ???? ???? AI???? ??? ?? 7? ?? ??? ??? ????????.? ???? ?????(AI ???), ?? ?? ??, ?? ???(GPU ?)? ??? ??? ??????? ?? ??? ?? ??? ?? ?? ??? ?????.
AI? ??? ??? ?? ??? ? ?? ?? ??????, ?????, ????, ??? ??? ?? ???? ?? ???? ????.
??? ???? ????? ?? ??????. ?????? ????? ??? ??? ? ?????1,000? ?? ??? ????, ? ??? ?? ??????? ??? ?? ????? 3,000? ?? ??? ??? ??? ? ????.
2024?? 2025? ??? ? ?? ?????? ????? 50% ??? ??? ??????(?? 1 ??), ??? ? ?? ??? ?????. ?? AI ??? ?? ???? ?? ?? 10?? ??? ????, ? ??? ???? ?? ?? ??? ?? 5~10? ? ??? ??? ?????.? ?? ??? ?? ?? ??? ?? ??? ??? ?? ?? ?????? ???? ??? ????? ??? ???? ????, ??? ?? ???????? ??? ??? ???? ??? ??? ?? ???? ???? ??? ??? ?????.
"AI is accelerating the need for data centers, fiber networks and modern power infrastructure—creating an entirely new class of investment opportunities."
??? ??
??? ?? ??? ??, ????? ?? ??? ??? ??? ???? ????. ? ??? ?? ??? ???? ?? ???? ?????? ????, ?? ???·??·?? ??? ??? ??? ?? ???? ??????. ??? ?? ?? ??? ???, ??? ??, ?? ??? ??? ??? ?? ????. ??? ?????? ?? ??? ???? ???, ??, ?? ?? ??? ???? ??? ?? ???, ?? ?? ????? ??·?? ??? ??? ?? ????.
? ??, ??? ??? ???? ?? ???? ?????? ???? ???? ?? ?? ??? ?? ??·?? ?? ???? ????? ???? ?? ???? ?? ??? ??? ? ?? ??? ??? ????.???? ??? ?, ???, ???? ??? ??? ?? ??? ????? ??? ??? ?????.??? ??? ?? ?? ??, ??, ????? ? ??? ?? ??, AI ? ????? ??? ?? ??? ????? ??? ???? ???? ????. ?????? ??? ??? ?? ??? ?? ????, ???? ?? ???·??? ???? ? ?? ????. ?????? ??? ????? ???? ???? ???? ?? ? ?????? ??? ????? ???? ????.
?? 1: ??? ?? ?? ??? ?? ???????? ????? ???
?? ?? ??
????? ???? ???? ??? ?? ? ??????? ?? ??? ????. ????? ?? ? ??? ??? ??? ????? ?? ???? ?? ??? ???? ???, ?? ?? ???? ?? ???? ??? ????.
? ?? ???? 70% ??? 25? ?? ? ?? ????, ?? ????? ????? ??? ??(????)?? ??? ?? 10?? ?????.? ????? ???? ??, ????? ?? ??, ?? ??? ??? ??? ?? 2030??? ?? ??? ?? ??? 6,000? ??? ???? ? ??? ?????.? ?? ?? ???? ‘?? ??’? ?? ?? ??? ?????, ??? ???? ??? ?? ??? ????? ???????? ?? ??? ???? ????.
????? ??? ?? ?? ??? ?? ??? ???? ?? ?? ?????, ??? ?? ??? ?? ????? ?? ??? ???? ???? ??? ???? ?????? ?? ??? ??? ??? ????. ?? ??? ???? ???? ???? ????? ???? ?? ??, ???, ??? ???? ??????? ? ‘?? ??? ???’ ???? ??? ???? ??? ???? ????. ?? ???, ?????? ??? ???? ?? ??? ? ????(behindthe-
meter, BTM) ??? ?? ???? ???? ??? ???? ??? ??? ????? ??? ?????? ????? ???? ?? ??? ???? ????.
??? ??
??? ??? ????? ????·????? ????? ???? ?? ???? ?? ? ??? ???? ????. ??? ??? ???? ???? ?? ????? ?? ??? ?? ??? ?? ?? ? ????? ??, ????? ?????? ???? ?? ?? ?? ??? ?? ??, ??? ?? ?????? ????? ?? ????? ?? ??? ?? ?? ??????.
??? ??? ??? ??? ???? ????? ???? ??? ??? ?????. ?? ???? ??? ? ???, ??? ??? ???? ???? ??????? ????. ???? ????? ????????? ??? ??? ?? ???, ?? ???? ???? ???? ? ??? ?????.
??? ??? ?? ?? ??
????? ???? ?? ??? ??? ??? ???? ??? ??? ??? ??? ?? ???? ??? ??? ???? ????. ???? ????? ??? AI ???? ??? ? ??, ???? ??? ??? ???? ??? ? ???, ???·??? ??? ??? ?? ????? ???? ? ????. ??? ??? ???, ??? ??? ???? ?? ???????? ??? ?? ??? ??? ??? ?? ?????? ??? ? ?? ????? ??? ???? ????(?? 2 ??).
??, ???, ?? ??? ??? ??? ?? ??? ??? ????? ???? ??? ? ?? ??? ???????. ??? ???? ??? ??????????? ?????? ??? ?? ?? ??? ????? ??? ????, ?? ??, ???? ??? ???? ????. ??? ??? ?? ??? ?? ???? AI ????? ??? ? ????(BTM), ??? ?? ??? ????? ?? ???? ??? ??? ???? ???.
? ?? ??? ??? ??, ??? ??? ???, ???? ?? ?? ??, ??? ???? ??? ? ?? ???? ???? ??? ??????. 2026?????? ??, ????·????·????? ? ????? ?????? ??? ??? ??? ??? ?? ???? ???? ???? ???, ?? 10????? ???? ???? ??? ???????.
?? 2: ??? ?? ??? ??
Endnotes
- McKinsey & Company, “The Infrastructure Moment,” September 2025.
- Brookfield internal research.
- Actual 2024 and forecasted 2025 annual capital expenditures for six hyperscale companies, based on publicly available disclosures; IoT Analytics, November 2025.
- U.S. Department of Energy, “What does it take to modernize the U.S. electric grid?” October 2023; Lawrence Berkeley National Laboratory, “Queued Up: 2024 Edition,” April 2024.
- IEA, "Electricity Grids and Secure Energy Transitions," October 2023.
Disclosures
This commentary and the information contained herein are for educational and informational purposes only and do not constitute, and should not be construed as, an offer to sell, a solicitation of an offer to buy, or an advertisement for, any securities, related financial instruments or investment advisory services. This commentary discusses broad market, industry or sector trends, or other general economic or market conditions. It is not intended to provide an overview of the terms applicable to any products sponsored by Brookfield Asset Management Ltd. and its affiliates (together, “Brookfield”).
This commentary contains information and views as of the date indicated and such information and views are subject to change without notice. Certain of the information provided herein has been prepared based on Brookfield’s internal research and certain information is based on various assumptions made by Brookfield, any of which may prove to be incorrect. Brookfield may have not verified (and disclaims any obligation to verify) the accuracy or completeness of any information included herein including information that has been provided by third parties and you cannot rely on Brookfield as having verified such information. The information provided herein reflects Brookfield’s perspectives and beliefs.
Investors should consult with their advisors prior to making an investment in any fund or program, including a Brookfield-sponsored fund or program.
