Google Drops 3 Billion Bombshell in Europe's Largest Single Investment

Google's largest investment in Europe to date is its digital infrastructure spending in Finland, totaling at least 13 billion across 2027 and 2028. The money will cover data centers in Hamina, Kajaani, Muhos, and Vaala, with an annual average contribution of 3.6 billion to Finnish GDP during construction.

This investment is expected to support over 37,000 jobs and 7,000 once the data centers are operational. Alphabet shares were down 3.03% intraday as a result of this announcement.

In addition to its digital infrastructure spending, Google has also signed a 22-year power purchase agreement with Fortum to fund the life extension of the Loviisa nuclear plant in Finland. The plant employs about 580 people and supplies 10% of Finland's electricity.