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Google to spend €13 billion in Finland and buy nuclear power for its data centres.
Google is putting €13 billion, about $15.1 billion, into artificial intelligence infrastructure and energy in Finland over 2027 and 2028. It is the company's largest investment in Europe.
The money covers three new data centres in northern Finland, a country of fewer than six million people.
The energy side is the unusual part. Google signed a 22-year power purchase agreement with the utility Fortum for up to half the output of one nuclear plant, underwriting an extension of the Loviisa plant through to 2050.
"This is Google's first nuclear energy deal outside of the United States," said Ruth Porat, Google's president and chief investment officer.
Fortum shares jumped 15.5% on the announcement, to their highest in four and a half years.
Google estimates the project will add €3.6 billion to Finnish output during construction and support about 7,000 jobs a year once the centres are running.
Parent company Alphabet has guided to between $195 billion and $205 billion of AI investment worldwide this year.
Finnish Prime Minister Petteri Orpo said the country generates enough electricity to absorb the extra demand.
This story was put together by K N N from material first published by Reuters.
That was a Kibra News Network report, read by an A I voice.
Google is putting €13 billion, about $15.1 billion, into artificial intelligence infrastructure and energy in Finland over 2027 and 2028. It is the company’s largest investment in Europe.
The money covers three new data centres in northern Finland, a country of fewer than six million people.
The energy side is the unusual part. Google signed a 22-year power purchase agreement with the utility Fortum for up to half the output of one nuclear plant, underwriting an extension of the Loviisa plant through to 2050.
“This is Google’s first nuclear energy deal outside of the United States,” said Ruth Porat, Google’s president and chief investment officer.
Fortum shares jumped 15.5% on the announcement, to their highest in four and a half years.
Google estimates the project will add €3.6 billion to Finnish output during construction and support about 7,000 jobs a year once the centres are running.
Parent company Alphabet has guided to between $195 billion and $205 billion of AI investment worldwide this year.
Finnish Prime Minister Petteri Orpo said the country generates enough electricity to absorb the extra demand.
KNN Newsroom is the staff byline for stories written, rewritten and edited at the Kibra News Network desk. Where a story credits an outside outlet, the original source is linked at the foot of the piece.
