BNDES Plans AI and Data Center Investment Fund with Up to 1 Billion Reais

Brazil’s state development bank, BNDES, is exploring the creation of an investment fund dedicated to artificial intelligence (AI) and data centers, according to planning executive Nelson Barbosa. This initiative is part of a larger strategy by BNDES to re-enter the equities investment market. The proposed fund is expected to receive an allocation between 500 million reais and 1 billion reais ($91.93-183.86 million). The Brazilian real is currently valued at 5.4390 per dollar.