AI data centre: Google to invest 13 billion euros in Finland
It is expected that over 37,000 jobs will be created nationwide, of which around 16,000 will be in the construction sector. Once fully operational, the facilities will employ around 7,000 people, including suppliers and local service providers
Google, a subsidiary of Alphabet Inc., is planning its largest investment in Europe: the construction of an artificial intelligence infrastructure worth at least 13 billion euros ($15.1 billion) in Finland.
Investments over the next two years will include the construction of at least three new data centres, as well as the expansion of the existing data centre in the town of Hamina, in the south-east of the country, the company said in a statement issued on 9 September.
“Google is proud to strengthen its presence in Finland with the company’s largest single investment in Europe,” said Ruth Porat, Chief Investment Officer, in a statement.
More processing power
The initiative forms part of Alphabet Inc.’s efforts to accelerate the expansion of computing capacity dedicated to artificial intelligence. In July, the Silicon Valley giant raised its capital expenditure forecast to $205 billion for this year, as it races its rivals for dominance in the artificial intelligence landscape.
For Finland, the investment represents a significant boost at a time when the country is struggling to revive economic growth. The Nordic country has had to contend with weak demand, a slump in trade with neighbouring Russia and the effects of austerity measures aimed at bringing public finances back under control. The unemployment rate has risen above 10 per cent, reaching the highest level in the European Union.
