Schwarz Group Bets Big on Cloud Computing with €5.6 Billion Data Centre
Germany's richest man, Dieter Schwarz, is making a major push into technology through his company, Schwarz Group. The group is investing €5.6 billion to build a new data centre in northern Germany, aiming to expand its cloud business and challenge US tech giants such as Amazon, Microsoft, and Google.
The investment comes as Europe seeks greater digital independence and wants to reduce its reliance on US and Chinese technology providers. Through its Schwarz Digits division, the group wants to become a major European hyperscaler, offering cloud computing, data storage, and AI services at scale.
However, this expansion raises questions over the huge energy and water demands of data centres, as well as the impact of AI and automation on jobs. Europe needs to significantly expand its computing capacity, and Schwarz's multibillion-euro bet highlights the growing race for cloud infrastructure and AI power.