$BAM

Brookfield Asset Management (NYSE:BAM) will open a Doha office, expanding its Middle East operations. The move follows a $20B AI infrastructure investment partnership with QIA. Brookfield manages $20B in GCC assets. The expansion comes amid regional economic pressures, including a $20B loss from an attack on Qatar's LNG facilities. QIA continues major international partnerships, including with JPMorgan Chase (NYSE:JPM) and Goldman Sachs (NYSE:GS).

Data centers are expected to significantly increase U.S. power demand, reaching 194 GW by 2035, per BloombergNEF. Microsoft canceled a U.K. project due to power supply issues, impacting Nscale, backed by Nvidia. Amazon is stockpiling Nvidia GPUs but lacks sufficient power to deploy them, according to reports. Energy companies like Constellation Energy, Brookfield Asset Management, and Brookfield Renewable Partners see opportunities in this demand.

BAM Group is acquiring a 40% stake in Dutch horizontal directional drilling firm VLST for €45 million, expected to close in Q1 2027. VLST operates 19 rigs, with €60 million revenue and 18% EBITDA margin. BAM also plans to buy A.Hak for €504 million, which has a €1 billion order backlog. Both deals align with BAM's infrastructure growth strategy.

Brookfield's $4.1 billion bid for Reliance Worldwide has passed the 'go-shop' clause, bringing the acquisition closer to completion. The deal would take the plumbing supplies company off the Australian stock exchange.

Brookfield Corporation (BN, BN.TO) plans to issue 6 million Series 56 preferred shares at C$25 each, raising C$150 million. The shares offer a 5.65% fixed annual dividend until 2031, with a reset mechanism thereafter. Underwriters have an option to increase the offering by 2 million shares. Proceeds will be used for general corporate purposes. Shares on the NYSE were up 1.00% at $36.31.

Brookfield plans to issue $105.6 million in Class A preferred shares. The company's stock has seen a 5-day change of +0.33% and a year-to-date change of -2.33%.

Uranium contract prices hit a record $96.50/lb in September, surpassing the 2007 peak. The U.S. and South Korea announced a $120B framework for nuclear reactors. Eagle Nuclear (NUCL) has $25.5M cash, awaits permits for its Aurora project. Other companies like Brookfield (BAM), Denison (DNN), IsoEnergy (ISOU), and NANO (NNE) are also advancing uranium projects.

The US Department of Energy announced a $100 billion private investment for the Paducah American Energy Hub in Kentucky, focusing on AI and high-performance computing. Brookfield Asset Management will build a 1.8 GW data center, while NextEra Energy will develop 2 GW of gas generation and 2.6 GW of energy storage. The project, set for completion by 2032, is expected to create 8,000 construction jobs and 600 permanent roles.

Brookfield Asset Management (BAM) and NextEra Energy (NEE) will invest $100 billion to build an AI and high-performance computing hub in Kentucky, creating jobs and new energy infrastructure. The project, targeting completion by 2032, aims to be resource-efficient and avoid raising local utility bills. Meanwhile, market sentiment is cooling on heavy AI infrastructure spending, with challenges faced by projects like Stargate and Oracle's Project Jupiter.

Brookfield, Westinghouse, and Cameco partnered with the U.S. government on an $80 billion nuclear energy initiative, aiming to build new reactors using Westinghouse's AP1000 and AP300 technologies. The project aligns with U.S. energy demand growth and aims to strengthen the nuclear industrial chain, with Brookfield providing infrastructure expertise and Cameco supplying uranium and fuel cycle support.