Overview
- Nebius, which announced the project Tuesday, will add a 310 MW AI factory in Lappeenranta with first capacity slated to reach customers in 2027.
- Finnish developer Polarnode has started construction on the multi-building campus, which reports value at more than $10 billion.
- The facility will operate as a multi-tenant site for training and running AI models, supported by Nebius deals totaling over $40 billion with Microsoft and Meta and a $2 billion investment from Nvidia.
- Nebius says closed-loop liquid cooling will curb local water use and enable heat recovery for district heating, with power needs comparable to up to 500,000 Finnish homes.
- The company expects up to 700 construction jobs and about 100 permanent roles, while investors weigh execution, power and financing risks tied to its rapid expansion.