Finland Lands $10B AI Data Hub

AI infrastructure firm Nebius Group announced its continued European expansion with plans for a substantial 310-megawatt data centre in Finland. This new facility, valued at over $10 billion, is slated to become one of the continent's largest and is expected to begin phased operations from 2027. Located in Lappeenranta, the data centre will support the increasing demand for AI computing power.

The choice of Finland is strategic, leveraging the country's competitive advantages such as low energy prices, a supply of renewable electricity, and a cold climate that significantly reduces cooling expenses. Lappeenranta specifically offered advantages like quick land availability and sufficient grid capacity, alongside a favorable broader ecosystem. This site will be Nebius' largest outside the United States, surpassing its recently announced project in France.

This significant investment is set to contribute to Nebius' capacity goals, which include securing over 3 gigawatts of contracted capacity by the end of 2026. The Lappeenranta facility alone will consume electricity equivalent to powering up to half a million Finnish households, underscoring its scale and importance to the company's growth and the European AI landscape.