Google announced on Wednesday that it will invest at least 13 billion euros ($15.1 billion) in artificial intelligence infrastructure in Finland, marking the company’s largest single investment in Europe to date. The investment, which will be deployed through 2028, includes funding for data centers and complementary projects such as energy initiatives to support the growing power needs of its operations.

Finland has become an attractive destination for data center development amid a surge in demand for AI-related infrastructure. The country’s combination of available land and access to relatively abundant and sustainable energy resources distinguishes it from much of Europe, where power supply constraints pose challenges for large-scale data operations.

As part of the investment, Google has signed a 22-year power purchase agreement with Finnish energy company Fortum. Following the announcement, Fortum's stock price rose by 11%. Google noted that its expansion in Finland builds upon more than 15 years of investment in the country.

"Google is proud to deepen our roots in Finland with the company's largest single investment in Europe," said Ruth Porat, president and chief investment officer of Alphabet and Google. She emphasized that the company aims to grow its infrastructure responsibly by coupling technical expansion with energy capacity development, grid improvements, and initiatives to enhance energy affordability.

The investment aligns with a broader trend in which Finland has emerged as a key hub for data center growth. Several major projects have been declared in recent months, including Pure DC’s €1.5 billion plan to build a 110-megawatt campus that could eventually expand to over 550 megawatts, and Arcem’s proposed site with up to 500 megawatts of capacity. Additionally, in March, Nebius unveiled plans to develop one of Europe’s largest AI-focused facilities in Finland.

Industry experts have noted that Finland’s appeals, particularly for AI infrastructure, have earned it the moniker "the Texas of Europe," reflecting its growing role as a critical center for technology investment on the continent. Matti Lajunen, a partner specializing in real estate at Finnish law firm Hannes Snellman, highlighted the country’s rapid rise in hosting AI infrastructure projects amid global demand pressures.