Nebius unveils plans to build one of Europe's largest AI factories as region scrambles for compute

Nebius has revealed plans to establish one of the largest AI data centers in Europe, strategically located in Lappeenranta, Finland. This significant development comes as the region intensifies its efforts to enhance the computational infrastructure necessary to support the burgeoning AI industry. The new facility is set to boast a remarkable capacity of up to 310 MW, with Nebius projecting that it will begin serving customers by 2027. Arkady Volozh, CEO of Nebius, expressed enthusiasm about the expansion, stating, "We have been building in Finland for many years and are pleased to be expanding our presence here. Lappeenranta represents a significant addition to our global AI infrastructure build-out and will make a significant contribution to achieving our capacity goals." This announcement aligns with a wave of AI infrastructure initiatives emerging across Europe. Recently, French AI startup Mistral disclosed it had secured $830 million in debt financing for a data center near Paris. Earlier this year, plans were also unveiled for a 1.2-billion-euro ($1.38 billion) investment in data centers and computational capacity in Sweden. Additionally, U.K. startup Nscale announced a $2 billion fundraising effort aimed at developing AI data centers across Europe and the U.S. The momentum continues as 2025 approaches, with key players like MGX, Bpifrance, Mistral, and Nvidia revealing plans for a 1.4 GW AI campus in France, while Brookfield has committed to investing up to $9.9 billion in an AI data center in Sweden. This story is still developing, and updates will follow as more information becomes available.