The investment giant co-owns the district alongside the Qatar Investment Authority and sees a huge opportunity in the UK and Europe.
"We're going to bring data centers here to Canary Wharf. They're going in everywhere," he said.
Teskey calls AI infrastructure "the single largest theme at Brookfield today, bar none." He points to three trends: rising energy demand, more digitalization, and the reshaping of global supply chains. Together, they create a massive need for capital.
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He believes the combination of increased energy use and AI-driven productivity gains will make investments very attractive. "With that combination of increased energy [and] the productivity benefits of AI on a global basis, we're looking at a productivity step up that makes investment incredibly attractive," Teskey said.
Teskey conceded that there are "pockets of froth" within the current market, but added, "it's not a reason not to be excited about those big trends."
Teskey sees the UK and Europe in a unique position. "We think there is a huge opportunity for AI in the U.K. and Europe because it is that middle ground between the United States and China," he said.
Unlike the US, which has home-grown hyperscalers, the UK does not. That means the push for AI infrastructure will be different. "The U.K. does not have a home-grown hyperscaler, so the creation of AI infrastructure and the driving of productivity from AI is going to have different dynamics here - it's probably going to be driven more by governments than by the hyperscalers," Teskey said.
Brookfield has already formed specialized AI collaborations with the governments of France and Sweden. The firm sees governments as key customers and drivers in Europe.
The introduction last November of an AI infrastructure fund backed by Nvidia highlights Brookfield's dedication. In Europe, partnerships with the French and Swedish governments underscore how sovereign entities are becoming essential customers in regions lacking home-grown hyperscalers. This government-driven dynamic sets the UK and Europe apart from the US market.
This move reflects a broader trend of repurposing urban financial districts for high-tech infrastructure. Canary Wharf, once dominated by banks and trading floors, is pivoting to meet the surging demand for compute power. Brookfield's existing global portfolio of data centers already measures in the gigawatts, and the firm's strategic focus on AI aligns with Nvidia's push to expand GPU deployment.
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