Prime Data Centers, a portfolio company of Oaktree Capital, announced plans on Monday to invest up to €1 billion (approximately $1.17 billion) in developing a data center campus in Amsterdam. This marks one of the largest hyperscale data center investment projects disclosed in Europe this year.
Prime Data Centers stated the campus will be leased entirely to a single hyperscale tenant.
Hyperscale cloud service providers are racing to build AI infrastructure. Corporate filings indicate Amazon, Meta Platforms, Google, and Microsoft are projected to invest hundreds of billions of dollars in related infrastructure by 2025.
While multiple planned data center projects have been announced in Europe this year, few have secured lease agreements in advance as this project has.
Prime Data Centers revealed the Amsterdam campus will commence construction in January 2026, with phased delivery expected to begin operations progressively starting in 2028.
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