Google has announced a record €13bn (£11bn; $15bn) investment in Finland's AI infrastructure, which the company states is its largest single investment in Europe. The package will fund three new data centres, expand an existing site, and support energy projects to power the increasing demand for AI services.
As part of this initiative, Google has signed a 22-year contract with Finnish utility Fortum to purchase up to 50% of the output from the Loviisa nuclear power plant. This commitment is expected to support an investment programme aimed at extending the life of the nuclear station and increasing its generating capacity.
The investment is projected to support over 37,000 jobs during construction, which is set to occur in 2027 and 2028. Google also anticipates the project will boost Finland's GDP by €3.6bn annually.
Finland has become an attractive location for data centres due to its cool climate, abundant low-carbon electricity, and relatively uncongested power grid. Earlier this week, TikTok also announced a $1bn investment in Finland for a new data centre.