Alphabet-owned Google plans to make its largest investment in Europe to date, building €13 billion (about $15.1 billion) worth of AI infrastructure in Finland.
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The company said in a statement released Wednesday that the investments over the next two years will include building at least three new data centers, in addition to expanding its existing data center in the city of Hamina in the country's southeast, according to Bloomberg News.
"Google is proud to deepen its roots in Finland with the company's single largest investment in Europe," said Chief Investment Officer Ruth Porat in the statement.
The move comes as part of Alphabet's efforts to accelerate the expansion of its AI computing capacity, after the Silicon Valley tech giant raised its capital expenditure forecast in July to around $205 billion for this year, as it races against competitors for dominance in the AI landscape.
For Finland, the investment represents a major boost, as the country works to revive economic growth.
