Google to fund Finnish AI with €13bn investment and nuclear power pact

Google will buy up to half the electricity produced by one of Finland's nuclear power plants as part of a record €13bn (£11bn; $15bn) investment in the country's AI infrastructure, the company announced.

"This is Google's largest single investment in Europe and a testament to Finland's leadership in responsibly building AI infrastructure," the company said on Wednesday.

As part of the deal, Google signed a 22-year contract with Finnish utility Fortum to buy up to 50% of the output from the Loviisa nuclear power plant.

Finland has emerged as an attractive location for data centres because of its cool climate, plentiful low-carbon electricity and relatively uncongested power grid. The colder temperatures can reduce the energy needed to cool facilities packed with computer servers.

The Google investment is expected to support more than 37,000 jobs during construction and boost Finland's GDP by €3.6bn a year, according to Google. Construction is set to take place in 2027 and 2028.

"Deepening our collaboration with Google will deliver lasting benefits for both parties."

The infrastructure will help support products such as its AI chatbot Gemini, alongside services including Search, Maps and YouTube.

"Google is proud to deepen our roots in Finland," said Ruth Porat, president and chief investment officer of Alphabet and Google.

Earlier this year, Google's parent company Alphabet raised its global spending plans to as much as $205bn as it sought to expand computing capacity for AI services.

Fortum said Google's commitment would support an investment programme aimed at extending the life of the nuclear station and increasing its generating capacity.

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