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Brookfield Asset Management's newly formed AI infrastructure company Radiant has been valued at USD 1.3 billion following its merger with London-based cloud computing firm Ori Industries. The deal, announced in the past week, did not disclose financial terms, but sources confirmed that all of Ori's existing investors rolled their stakes into Radiant, alongside fresh capital from Brookfield. The move comes amid rising demand for AI computing capacity and forms part of Brookfield's larger USD 10 billion AI infrastructure fund, which also includes commitments linked to power and chip partnerships.
Brookfield Asset Management's new artificial intelligence infrastructure platform, Radiant, has been valued at USD 1.3 billion after merging with London-based cloud computing company Ori Industries, according to people familiar with the matter and a document reviewed by Reuters. Advertisement
The merger was announced in the past week, although financial details were not disclosed at the time. Sources indicated that all of Ori's pre-deal investors transferred their holdings into Radiant. Brookfield also infused fresh capital into the combined entity. However, it could not be determined how much of the USD 1.3 billion valuation was attributed to Ori's contribution. The valuation was established earlier this month, and it remains unclear whether it has changed since then. Both Brookfield and Ori declined to comment.
Radiant was set up by Brookfield to provide on-demand access to artificial intelligence chips and computing infrastructure. The formation of the company aligns with the growing rush among investors to build data centres, power systems and chip infrastructure required for advanced AI applications, especially as the sector faces a shortage of high-performance computing capacity.
Regulatory filings show that Ori reported total assets less current liabilities of 42.5 million pounds (USD 57.2 million) at the end of 2024. Its total debt stood at 11.3 million pounds, up from 4.4 million pounds a year earlier.
Mahdi Yahya, founder of Ori and whose company was backed by the venture arm of Saudi Aramco, has taken on the role of president at Radiant. In a statement issued earlier, he said that for over seven years the company had been developing software to support AI infrastructure at scale and believed Brookfield was the appropriate partner. He added that through Radiant, the company intends to help correct the supply-demand imbalance that has characterised the AI market since 2023.
Vishal Padiyar, executive chair of Radiant, stated that the platform combines infrastructure and software capabilities to serve governments and large enterprises, with a focus on lowering computing costs and improving performance at scale.
Radiant is among the early investments under Brookfield's AI infrastructure fund, which is targeting USD 10 billion in investor commitments and plans to scale up to as much as USD 100 billion through co-investments and financing structures. As part of this broader strategy, up to USD 5 billion has been earmarked for projects with Bloom Energy to deploy up to one gigawatt of behind-the-meter power solutions for data centres and AI facilities. Chipmaker Nvidia has contributed to the fund's initial capital and is expected to supply chips to Radiant.
The development also fits into the United Kingdom's broader push to expand computing infrastructure. The government has classified data centres as critical infrastructure and aims to increase national computing capacity twentyfold by 2030. Global technology companies including Google and Microsoft have committed multi-billion-pound investments in the UK data centre sector. Additionally, the government has outlined up to 2 billion pounds (USD 2.70 billion) in public funding under its Compute Roadmap to strengthen domestic capacity.
Brookfield, which has significant global investments across infrastructure, renewable energy and private equity, has been increasing its exposure to digital infrastructure in recent years. The creation and valuation of Radiant signal its intent to position itself in the fast-growing AI infrastructure segment, where access to computing power and reliable energy supply has become a key competitive factor.
Source Reuters
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