Alphabet's Google announced an investment of €13 billion ($15.1 billion) in artificial intelligence infrastructure in Finland, representing its largest investment in Europe. The company will build three new data centers and expand an existing facility in the city of Hamina, in the country's southeast, over the next two years.
Finland's cold climate and its carbon-free energy make the Nordic country a magnet for companies building data centers, which require low temperatures to cool their servers and consume large amounts of electricity.
The announcement benefited Finnish companies, with shares of Fortum Oyj and Nokia Oyj rising after the investment was disclosed, driving gains across the Finnish stock market.
Google's initiative is part of a broad expansion of computing capacity in the Nordic country, which already accounts for an estimated €43 billion in investments in the sector, according to data mentioned in the article.
