Finland: Google announces €13 billion AI, energy investment

Google has announced a €13 billion ($15.1 billion) investment in AI infrastructure in Finland, as well as purchasing nuclear power for the next 22 years. This is Google's largest single investment in the EU to date. The company will be transforming a former paper mill in Hamina into a data center and expanding operations in three new locations in Kajaani, Muhos, and Vaala.

Google claims this investment will boost Finland's GDP by €3.6 billion and create 37,000 jobs, with 7,000 permanent positions. Prime Minister Petteri Orpo sees this as a significant step for Finland's digitalization and AI development, minimizing concerns over energy price hikes and resource consumption. The deal also includes a 50% share in the output of one of Finland's nuclear power plants for the next 22 years, allowing the plant to continue operations until 2050.

Finland's data center boom is expected to increase energy consumption by 40% over the next few years, raising concerns about environmental impact and potential security risks from foreign-owned data centers.