Nebius expands in Europe with $10 billion AI data centre project in Finland

Summary

• Nebius plans a 310 MW AI data centre in Finland by 2027
• Project valued at over $10 billion amid rising AI demand
• Finland chosen for energy efficiency, renewable power, and cooling advantages

HELSINKI, March 31, 2026 — Nebius Group is accelerating its European expansion with plans to develop a 310-megawatt AI data centre in Finland, a project valued at more than $10 billion as demand for artificial intelligence computing continues to grow.

The Amsterdam-based firm said the facility—its tenth globally—will be developed in Lappeenranta in partnership with Finnish developer Polarnode. The site, located near Finland’s eastern border, is expected to come online in phases starting in 2027.

Once completed, the project will rank among the largest AI infrastructure developments in Europe. It will be used to train AI models and support applications across Nebius’ cloud platform, rather than serving a single client.

The company has recently secured supply contracts worth more than $40 billion with major technology firms including Microsoft and Meta Platforms, highlighting strong demand for large-scale AI infrastructure.

Polarnode CEO Mikko Toivanen said the project ranks among Finland’s largest infrastructure developments and will contribute to Europe’s push for greater data sovereignty.

Strategic location and efficiency gains

Finland has become an increasingly attractive destination for data centre investment due to its combination of low energy costs, abundant renewable electricity, and a cold climate that helps reduce cooling requirements.

Nebius said Lappeenranta met key criteria including land availability, grid capacity, and a supportive ecosystem for technology infrastructure. Chief Communications Officer Tom Blackwell noted that the region provides a strong foundation for long-term expansion.

The new facility will become Nebius’ largest site outside the United States, exceeding the 240 MW project announced near Lille, France, earlier this year. The company’s largest operational European facility currently is a 75 MW site in Mäntsälä, Finland.

Chief executive Arkady Volozh said the Lappeenranta project will play a key role in achieving the company’s goal of securing more than 3 gigawatts of contracted capacity by the end of the year.

At full capacity, the site is expected to consume enough electricity to power up to half a million Finnish households and account for roughly 10% of Nebius’ contracted capacity.

Why this matters

• Highlights accelerating investment in AI infrastructure across Europe
• Strengthens Europe’s position in global AI computing capacity
• Underscores the importance of energy efficiency in data centre strategy
• Reflects rising demand for large-scale AI training and cloud services

FAQs

Q1: What is Nebius building in Finland?

A 310 MW AI data centre in Lappeenranta, expected to become operational from 2027.

Q2: How large is the investment?

The project is valued at more than $10 billion.

Q3: Why was Finland chosen?

Due to renewable energy availability, low electricity costs, and a climate that reduces cooling needs.

Q4: Who are Nebius’ major clients?

The company has supply contracts with firms such as Microsoft and Meta.

Q5: What will the facility be used for?

It will support AI model training and AI-powered cloud applications.