As a seasoned analyst with over two decades of experience in the tech industry, I find Greece’s strategic move to become a regional hub for technology and artificial intelligence through Data4’s data centers a shrewd decision. Having worked extensively across Europe, I can attest that Greece is indeed positioning itself as a key player in the Mediterranean region with its emphasis on connectivity and data hosting.
Greece appears set to become a key technological and artificial intelligence center within its region, as evidenced by the construction of two innovative data centers by the French company Data4.
On the 19th of November, CryptoMoon participated in the inaugural event for a brand-new establishment, situated merely beyond Athens, Greece’s thriving metropolis.
Investing in the future
This occurrence signifies that Data4 is broadening its operations to include the Greek market, aiming to establish it as a crucial link for connectivity and data storage within the Mediterranean area.
Data4’s latest campus is anticipated to significantly contribute to the advancement of Greece’s digital framework as well. It aligns with their goal of becoming a prominent player in the technology and IT industry across the region.
The Greek Prime Minister, Kyriakos Mitsotakis, along with various government authorities and representatives from Data4, were present at the event.
In his talk, Mitsotakis emphasized how this investment could stimulate the regional economy, enhance Greece’s worldwide reputation, and provide openings for proficient technical professionals. Essentially, he stated that the government is dedicated to backing ventures that promote digital advancement and creativity.
Data4 intends to construct at least two facilities. The initial structure is currently being built and is estimated to be finished within about two years. The start of the second building will depend on the pace of market absorption and growth in Greece, as stated by Olivier Micheli, the CEO of Data4.
“The plan is by the end of 2026, [or] January 2027, the first data center will be ready,” he said.
CryptoMoon inquired from Michelis about the resemblance of the Greek market to other European territories that Data4 serves. Michelis responded by stating that they are quite alike, emphasizing the necessity for domestic companies to store their own data locally. He further explained:
“The government [here] is very active, [it] has a program transition to the cloud and digital to facilitate the lives of the citizens. The government is already a big consumer. As well, you have all the tech giants that are willing to support AI and cloud development in the country.”
European data center development
The event transpired approximately two months following Data4’s preliminary announcement regarding their investment plans in Greece, as reported by CryptoMoon in September.
Micheli stated that the initial Greek investment for the first two data centers is anticipated to be approximately 300 million euros. Moreover, if our cooperation with the community thrives and we successfully construct a third data center here, the total investment could range between 450–500 million euros.
As a researcher, I am highlighting that Data4 is among numerous entities channeling resources into the development of data centers throughout Europe. Currently, this company oversees several data centers in six European nations, including Greece. By 2030, their strategic objective involves investing an impressive 7 billion euros to expand their operations.
Significant technology companies such as Microsoft are significantly increasing their investments in data centers and artificial intelligence projects spread throughout Europe.
In the month of February, Microsoft unveiled a planned $2 billion investment in Spain for the construction of advanced AI data centers. Additionally, Microsoft has started working on a comparable investment initiative in Greece, reminiscent of Data4, which was revealed in 2020 and received ministerial approval not long ago.
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2024-11-26 17:10