Alphabet (GOOGL) Stock: Google Announces $15 Billion AI Data Center Investment in Finland
TLDR
- Google announced a record €13 billion ($15.1 billion) investment in AI infrastructure in Finland, its largest single investment in Europe.
- Three new data center sites will be built in Kajaani, Muhos, and Vaala, with expansion at its existing Hamina facility.
- The project is expected to support over 37,000 construction jobs and 7,000 permanent roles in Finland.
- Finnish energy firm Fortum’s stock jumped 11% after Google signed a 22-year power purchase agreement with the company.
- Wall Street rates GOOGL a Strong Buy with an average price target of $426.04, implying roughly 26% upside from current levels.
Google on Wednesday announced plans to invest at least €13 billion ($15.1 billion) in AI data centers in Finland, marking its largest single investment in Europe. GOOGL stock barely moved on the news, edging down 0.03% to $338.36.
The capital will be deployed through 2028, covering three brand new data center sites in Kajaani, Muhos, and Vaala, along with an expansion of Google’s existing facility in Hamina.
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