Brookfield Asset Management: Reasonably Valued, But AI Tailwinds Could Justify A Higher Valuation

Brookfield Asset Management is rated a buy, supported by robust Q2 earnings, record fundraising, and accelerating AI infrastructure investments. BAM reported fee-related earnings up 20% year-over-year, record $77 billion fundraising, and significant growth in fee-bearing capital and margins. Strategic AI partnerships and acquisitions position BAM to benefit from global AI infrastructure buildout, leveraging its balance sheet strength and $149 billion dry powder.