Google Makes Its Single Largest AI Investment in Europe — Bets $15 Billion on Finland AI Infrastructure

Google commits $15B to Finland AI infrastructure, including its first nuclear contract outside the US, covering 50% of a plant's output through 2050.

Google Cloud backlog hit $514B, with revenue surging 82% year-over-year to $25B and operating margin expanding to 36%.

Finland's cold climate and low-carbon grid cut cooling costs while the project adds $4B to GDP and 7,000 annual jobs.

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Google ( NASDAQ:GOOG ) is committing at least €13 billion ($15.1 billion) in AI infrastructure in Finland over 2027 and 2028, a company-announced capital commitment that the search giant is calling its single largest AI investment in Europe to date. The pledge, unveiled this week, pairs a data-center buildout with a 94MW battery system, new wind contracts, and a 22 year nuclear power deal covering up to half of Fortum's Loviisa output. This is a strategic capital deployment announcement rather than a reported earnings figure.

Finland gives Google two scarce ingredients for training frontier models: cheap, cold air and low-carbon electricity. The country's cold climate reduces cooling costs, and its abundant low-carbon energy aligns with Google's climate targets while supporting Gemini, Search, Maps, and YouTube. The nuclear piece is the structural anchor. Google's 22-year purchase agreement covers up to 50% of the energy output from Finland's Loviisa nuclear plant operated by Fortum, providing long-term economic certainty for the facility through 2050. It is Google's first nuclear contract outside the United States.

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The Finland spend fits inside a much larger machine. Alphabet already guided full-year 2026 capex of $175 billion to $185 billion, and Q2 alone delivered capital expenditures of $44.9 billion, up 100.14% year over year. Roughly 60% of that technical-infrastructure investment went to servers and 40% to data centers and networking equipment. Finland is where a slice of that spend physically lands (we profiled seven of the power, cooling, and networking suppliers benefiting from exactly this kind of buildout in a free AI infrastructure report). The regional payoff is measurable: the project is projected to contribute approximately €3.6 billion to Finland's GDP during construction and support roughly 7,000 jobs annually once operational.