ALTÉRRA's strategy routes exposure to artificial intelligence (AI) through power assets with broader uses, chief executive Majid Al Suwaidi told The National on Monday, Nov. 2, describing it as a hedge against a potential bubble.
The UAE-backed climate investor does not invest directly in AI infrastructure, Al Suwaidi said. He told the newspaper that the energy systems can serve data centers as well as factories, homes, schools and hospitals. “We don't invest directly in AI infrastructure,” he said.
Al Suwaidi said bubbles can bring benefits when managed, but can cause harm if they burst. He presented ALTÉRRA's investments in energy systems with uses beyond AI as part of its response to that risk.
The United Arab Emirates announced a $30 billion commitment to launch ALTÉRRA during COP28 on Dec. 1, 2023. The fund's launch announcement set a goal of mobilizing $250 billion globally by 2030. ALTÉRRA describes its mandate as covering energy transition, industrial decarbonization, sustainable living and climate technology.
In an announcement on June 18, 2026, ALTÉRRA said it operated three funds and had more than 30 investments across developed and growth markets. The company said those...