EQT is considering joining other big infrastructure managers in launching an infrastructure strategy focused on artificial intelligence.

Stockholm-headquartered EQT recently registered the entity “EQT AI Infrastructure (General Partner) S.à r.l.” in the Luxembourg companies register, with sources saying it is considering launching a fund that will target AI infrastructure.

The deliberations are “very preliminary”, one of the sources said.

EQT, if it launches a specific AI infrastructure strategy, will join investors including Brookfield, which earlier this year launched a dedicated AI infrastructure strategy. The Canadian investor is targeting a wide range of infrastructure linked to AI, including data centres, graphics processing units “as a service” (GPUaaS) and areas such as fibre and liquid cooling.

Others to have launched AI infrastructure-specific funds include US investor DigitalBridge, which last year established DigitalBridge AI Infrastructure through its Ventures arm to target data centre software, according to Infralogic data.

Other major investors to have announced a major focus on AI infrastructure include KKR and Energy Capital Partners, which last year formed a USD 50bn global strategic partnership to invest in data centres, power, and energy; and BlackRock’s Global Infrastructure Partners, which announced a USD 30bn partnership with Microsoft and technology investor MGX to invest in data centres tapping into the AI boom.

The intergovernmental organization UN Trade & Development earlier this year predicted the global AI market will soar from USD 189bn in 2023 to USD 4.8tn by 2033.

While data centres are the most obvious established infrastructure investment seen as well-placed to benefit from the data centre boom, infrastructure investors are increasingly looking at other areas such as GPUaaS.

GPUs, which were initially developed to fulfil graphics functions in smartphones and other devices, are a major technology for AI and some GPUaas specialists, such as US-listed Coreweave, now own full-scale data centres that house their GPUs.

Given the large amount of energy consumed by data centres and other AI-related infrastructure, onsite electricity generation for such infrastructure is another theme infrastructure investors are following closely.

“The AI boom is likely to drive an increase in the number of digital-focused funds looking to tap into this, but you will also see a convergence with energy because the growth is going to create major energy demand,” said one industry source, noting that such funds are likely to target data centres with onsite generation for example.

EQT is already a major investor in digital infrastructure through its flagship value-add funds and its core strategy, with portfolio companies including European fibre and data centre group GlobalConnect and global data centre group EdgeConnex.

“Digitalization of society” is one of EQT’s main investment themes across infrastructure and other strategies, with digital accounting for 16% of its flagship EUR 16bn EQT Infrastructure V fund, according to its half year report for 2025.

Aside from targeting assets directly linked to the rise of AI such as data centres, EQT Infrastructure has also been seeking to harness AI to improve the operations of other assets, such as Nordic Ferry Infrastructure. It noted earlier this year that the Scandinavian ferry group’s booking system uses an AI engine to analyse when and where customers book and to set ticket prices.

An AI infrastructure-focused fund would not be the first sector specific one launched by EQT Infrastructure. Last year, it launched its EQT Infrastructure Transition strategy targeting clean energy and related areas.