Google has committed at least 13 billion euros ($15.1 billion) toward building out artificial intelligence infrastructure in Finland over the next two years, a move the company confirms stands as its biggest European investment to date.
The announcement lands as global technology giants scramble to secure enough computing power and electricity for energy-hungry AI systems. Finland has emerged as a magnet for such projects. Microsoft and ByteDance, which owns TikTok, have also launched data centre operations in the country.
Three new facilities will rise in northern Finland, where winter temperatures routinely plunge below minus ten degrees Celsius. That cold climate slashes the energy needed to keep servers cool.
Meanwhile, a separate 22-year power purchase agreement will give Google access to up to half the output from one of Finland’s two nuclear plants. Utility Fortum announced the deal alongside Google.
Ruth Porat, Google’s president and chief investment officer, called the arrangement Google’s first nuclear energy contract outside the United States. She dubbed the strategy “BYOP,” short for “bring your own power.”
Finland’s stable grid and nuclear capacity have proven attractive to data centre operators. Beyond purchasing existing power, Fortum and Google plan to explore building new nuclear and renewable generation capacity in Finland.
As a result, the projects are expected to generate roughly 3.6 billion euros for Finland’s GDP during construction. Once operational, the facilities could support around 7,000 jobs each year.
Prime Minister Petteri Orpo welcomed the investment, pointing to economic growth, innovation, and R&D benefits. He also pushed back on worries about electricity prices. “Based on all the information available, there is enough electricity,” Orpo said, noting the companies committed to maintaining adequate supply.
Fortum shares jumped 15.5% following the announcement, hitting their highest level in four and a half years. The long-term Google deal provides financial certainty for extending the life of Fortum’s Loviisa nuclear station through 2050. That plant sits near Google’s existing data centre in Hamina.
Alphabet has been ramping up AI infrastructure spending worldwide. The parent company raised its 2026 capital expenditure forecast to between $195 billion and $205 billion as demand for AI computing capacity accelerates.
