Google Announces €13 Billion Investment in Finland for AI Data Centers
Google announced a historic investment of at least €13 billion ($15.1 billion) into artificial intelligence infrastructure in Finland, marking the company's largest single European capital commitment to date. The funds will be allocated between 2027 and 2028 for data centers and supporting infrastructure across four northern Finnish locations: Hamina, Kajaani, Muhos, and Vaala. During construction, this investment is expected to contribute €3.6 billion annually to Finland's GDP and support over 37,000 jobs. Once operational, the facilities will sustain around 7,000 annual jobs with wages averaging 24% above the national median. Google has been active in Finland since converting a former paper mill into a data center in Hamina in 2009 and plans to use these new centers for services like Gemini, Search, Maps, and YouTube. The company also signed long-term power purchase agreements with Fortum for nuclear energy from the Loviisa plant and added onshore wind capacity through Valorem and Suomen Hyötytuuli. Shares of Fortum rose 11% following the announcement.
Topics: AI Data Centers Employment Green Energy Investment