Brazil state development bank mulls AI, data center-focused investment fund
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FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration created on February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
RIO DE JANEIRO (Reuters) -Brazil's state development bank BNDES is considering creating an investment fund focused on AI and data centers, planning executive Nelson Barbosa said on Tuesday.
The fund, which would be part of a broader BNDES initiative to resume investments in equities, could receive an allocation ranging from 500 million reais to 1 billion reais ($91.93-183.86 million), he added.
($1 = 5.4390 reais)
(Reporting by Rogrigo Viga Gaiaer; Writing by Isabel Teles; Editing by Gabriel Araujo)
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