Google just committed at least €13 billion, roughly $15.1 billion, to building out artificial intelligence infrastructure in Finland. It is the company’s largest single investment anywhere in Europe, ever.
The money will flow during 2027 and 2028, funding the expansion of Google’s existing data center in the coastal city of Hamina and the construction of three entirely new facilities in Kajaani, Muhos, and Vaala. For a country of about 5.6 million people, this is the kind of economic event that reshapes a generation’s job market.
What Google is building, and why Finland
Finland’s appeal to hyperscale data center operators boils down to physics and geography. Cold Nordic air provides natural cooling for servers that generate enormous heat, cutting energy costs dramatically compared to warmer climates. The country also offers reliable access to low-carbon electricity, which matters increasingly as tech companies face scrutiny over the environmental footprint of their AI ambitions.
Google’s plan goes well beyond pouring concrete. The company signed a 22-year power purchase agreement with Finnish energy firm Fortum, securing up to 50% of the electricity output from the Loviisa nuclear plant. That is a two-decade bet on Finnish nuclear energy as the backbone of Google’s European AI operations.
On top of the nuclear deal, Google plans to purchase new wind energy capacity and launch a battery storage initiative. Beyond the data centers and energy contracts, Google’s commitment extends to broader digital infrastructure, clean energy development, and community programs in the regions where it is building.
The economic impact
Google estimates the construction phase alone will boost Finland’s GDP by an average of €3.6 billion per year. The job numbers are equally striking. Over 37,000 positions are expected during the building period, with roughly 16,000 of those in construction. Once the facilities go operational, thousands of permanent roles will follow in areas like data center operations, maintenance, and support services.
Finnish Prime Minister Petteri Orpo called the investment a significant advancement for innovation, research and development, and the broader Finnish economy. Markets agreed with the sentiment: shares of Fortum, Google’s nuclear energy partner, ticked higher after the announcement.
This is not Google’s first chapter in Finland. The company has been investing in the country for 15 years, previously allocating €4.5 billion to the Hamina data center since 2009. The new €13 billion commitment nearly triples the cumulative total.
A signal about AI spending
Google’s Finland commitment fits into a much larger corporate spending spree. The company has projected global capital expenditure for 2026 at between $195 billion and $205 billion, a staggering sum driven almost entirely by the insatiable demand for AI computing power. The Finland investment, enormous as it sounds locally, represents roughly 7-8% of what Google plans to spend globally in a single year.