Charles Mizrahi is pitching a little-known “AI powerhouse” that he believes could be one of the biggest winners of the next decade. The company? Brookfield Corporation (BN)...not Nvidia, Microsoft, or some speculative AI startup.

Brookfield is a massive investment firm with exposure to power generation, infrastructure, real estate, and data centers. Basically, the physical infrastructure needed to keep the AI boom running.

And that's what makes this interesting to me. Everyone is focused on who builds the best AI models or chips, but those companies still need enormous amounts of electricity, data centers, and financing. Brookfield manages roughly $1.3 trillion in assets and is involved in major infrastructure projects supporting that demand. Mizrahi argues the stock is trading at about a 40% discount to its underlying value. That's an estimate, though, not a guaranteed bargain.

There's also a catch. Brookfield has a complicated corporate structure and substantial debt across its underlying businesses. Rising interest rates can make those investments less attractive. Still, I like the idea of investing in the infrastructure behind AI rather than trying to predict which AI company wins. Brookfield also has a separately traded asset management business, BAM, which offers another way to invest in the broader business.

If the AI boom continues, somebody has to build and finance the infrastructure. Would you rather own the companies developing AI or the companies getting paid to build everything AI needs?