Nebius Group N.V. (NBIS) announced plans to construct an AI factory in Lappeenranta, Finland, with a capacity of up to 310 MW. This project is anticipated to establish one of Europe’s largest dedicated AI factories, with initial capacity expected by 2027. The company’s shares surged by 12.5% following this announcement.
The Lappeenranta facility is part of Nebius’ initiative to secure over 3 gigawatts of contracted power globally by 2026, building on their current 750 MW contracted in the EMEA region. In addition to this, Nebius has plans for a 240-MW AI factory in Lille, France, and previously secured approval for a 1 GW factory in Kansas City, MO. For 2026, Nebius is projecting revenues of $3 billion to $3.4 billion, maintaining a goal of delivering 800 MW to 1 GW of data center capacity by year-end.
The company currently has over 2 GW of contracted power and aims to continue its aggressive expansion in AI infrastructure, despite facing competition from major players like Amazon and Microsoft.
