* Nebius ( NBIS ) to operate 310 MW AI data center in Finland by

2027

* Project among Europe's largest AI data centers, serving

large customers and AI cloud business

* Finland chosen for clean energy, robust grid, and cool

climate benefits

By Anne Kauranen and Toby Sterling

HELSINKI, March 31 (Reuters) - AI infrastructure firm

Nebius Group ( NBIS ) on Tuesday said it was continuing its

rapid European expansion with a 310-megawatt data centre in

Finland, which would be one of the continent's largest with an

estimated value of more than $10 billion as demand for AI

computing grows.

The Amsterdam-based company said capacity at its 10th site,

which Finnish developer Polarnode is already building in

Lappeenranta near Finland's eastern border with Russia, is due

to come online in phases from 2027.

Nebius ( NBIS ) has recently won supply contracts worth more than $40

billion in total with U.S. software giants Microsoft and Meta.

It said the new site would be used to train AI models and run AI

applications, and would not be tied to any one client.

The data centre is one of Finland's largest infrastructure

projects to date, Polarnode CEO Mikko Toivanen said in a

statement, adding that it would support European data

sovereignty.

LOWER COOLING COSTS

Finland is considered an attractive location for data

centres because its low energy prices, renewable electricity

supply and cold climate reduce cooling costs.

Lappeenranta ticked all the boxes, such as quick land

availability and grid capacity, Nebius ( NBIS ) found.

"We think that the broader ecosystem environment is also

very favourable here," Chief Communications Officer Tom

Blackwell told Reuters.

The Lappeenranta facility would be Nebius' ( NBIS ) largest outside the

United States, surpassing the 240 MW project it announced near

Lille, France, in February. Its largest operational European

facility is also in Finland, a 75 MW site in Mantsala.

Lappeenranta will make a "significant contribution" to

achieving Nebius' ( NBIS ) capacity goals, which include securing more

than 3 gigawatts of contracted capacity by the end of this year,

Nebius ( NBIS ) CEO Arkady Volozh said in a statement.

The site will use enough electricity to power up to half a

million Finnish households and eventually cover roughly 10% of

Nebius' ( NBIS ) contracted capacity.

(1 euro = $1.1467)