Brookfield Asset Management has acquired cloud-computing startup Ori Industries, merging it into a new entity, Radiant, as part of a push to provide on-demand access to AI chips for governments and tech companies, according to a report by Bloomberg.

Financial terms of the deal have not been disclosed.

The move targets the growing demand for “GPU-as-a-service” solutions, allowing clients to reduce costs and avoid long waits for chips. Radiant will focus on building sovereign cloud environments, where data remains within national borders, and contracts are structured to lock in rental payments across a chip’s estimated five-year lifecycle, minimising technology risk.

Brookfield is funding Radiant through its multibillion-dollar AI infrastructure fund, which seeks $10bn in investor commitments and expects to leverage additional capital to reach a $100bn deployment. The fund aims for higher returns than Brookfield’s traditional infrastructure vehicles, reflecting the higher-risk, high-growth nature of the AI sector.

The initiative complements Brookfield’s existing investments in data centres and power utilities and involves partnerships with Nvidia, which supplied chips and helped with the initial $5bn equity raise for the AI fund. Other investors from Ori, including Saudi Aramco’s venture arm Wa’ed Ventures, are expected to retain stakes in Radiant.

Mahdi Yahya, Ori’s founder, will serve as president of Radiant, which will initially focus on Europe and later expand to a data-center campus in Qatar, developed with Qatar Investment Authority subsidiary Qai.