Europe risks falling behind US, China on AI data centre build-up, Nokia CEO says
Nokia CEO Justin Hotard said Europe lacks the infrastructure needed to build up AI data centres and is not investing enough to keep business from moving to China and the US. Data centres account for 3% of the EU's electricity demand, and their consumption is expected to increase rapidly due to AI.
Europe is lagging behind in building AI data centre infrastructure, according to Nokia CEO Justin Hotard. The continent faces regulatory and energy constraints, hindering its ability to keep pace with the US and China. Hotard stated that Europe needs not only AI gigafactories but also connectivity and data centre capacity. Data centres currently account for 3% of the EU's electricity demand, with consumption expected to rise rapidly due to AI. Amazon has faced long delays in getting power grid connections, challenging its data centre expansion in Europe. Nokia's AI and cloud business now accounts for 8% of its sales, with the addressable market expected to grow 27% annually until 2028.
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