Portugal to become Europe's largest American AI hub with $40 billion US tech investment by 2031

US ambassador sees $40 billion tech investment wave into Portugal by 2031

Portugal anticipates significant US technology investment by 2031. This will establish it as Europe's primary hub for American AI infrastructure. Google's new Nuvem cable signifies a deepening partnership between the nations. Portugal is developing substantial data center capacity, including a large project in Sines. This strategic digital development offers a model for Europe's future growth. Portugal is set to attract more than $40 billion in US technology investment by 2031, becoming home to Europe's largest hub of American AI infrastructure investment, U.S. Ambassador to Portugal John Arrigo said on Tuesday. At a ceremony marking the successful ⁠connection ⁠of Google's new Nuvem transatlantic cable, he urged Europe to follow Portugal's example and build its digital future with trusted US partners or risk falling behind. He said Nuvem was "the clearest sign" of a deepening US-Portugal partnership, adding that "more than $40 billion in US tech investment is ⁠expected in Portugal by 2031, making it the largest concentration of American AI infrastructure investment in all ⁠of Europe." Portugal has more than 2.6 GW of data centre capacity under development, led by the 1.2-GW Start Campus project in Sines, south of Lisbon, which is backed by U.S. investment firm Davidson Kempner. The US was Portugal's third-largest foreign investor, with nearly $20 billion in investment stock spanning AI, energy, agriculture and tourism. Arrigo said Portugal's sovereign cloud framework strikes a balance, opening enough to keep drawing ⁠partners like Google, but disciplined enough to protect what matters. "This is exactly the model Europe needs right now," he said, arguing that the choice of Europe isn't about sovereignty and partnership, it's between building the digital future with trusted allies or trying to build it alone and falling behind.

Portugal to receive over $40bn in US tech investment by 2031 By Investing.com

Investing.com -- Portugal will receive more than $40 billion in U.S. technology investment by 2031, U.S. Ambassador to Portugal John Arrigo said on Tuesday. The country is becoming Europe's largest hub for American AI infrastructure investment. Arrigo made the announcement at a ceremony marking the connection of Google's new Nuvem transatlantic cable. He called on Europe to build its digital future with trusted U.S. partners or risk falling behind. The ambassador described Nuvem as "the clearest sign" of a growing U.S.-Portugal partnership. He stated that the expected investment would create "the largest concentration of American AI infrastructure investment in all of Europe." Portugal currently has more than 2.6 gigawatts of data center capacity under development. The largest project is the 1.2-gigawatt Start Campus in Sines, located south of Lisbon. U.S. investment firm Davidson Kempner backs this project. The United States ranks as Portugal's third-largest foreign investor, with nearly $20 billion in investment stock across multiple sectors including AI, energy, agriculture and tourism. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.