Digital Realty and Equinix reportedly target Nordic data center operator
Bloomberg reports that Digital Realty and Equinix are competing to acquire a Nordic data center firm. Details are locked behind a paywall, but the core signal is clear: hyperscale colo players want more Nordic footprint.
My Analysis:
Two of the biggest global colocation operators fighting over Nordic assets is about power, cooling, and future AI capacity. The Nordics offer cheap, relatively clean power and naturally efficient cooling, which maps directly to GPU-heavy AI workloads with brutal power densities. For AI, this is site selection logic, not M&A drama. If you want to host multi‑megawatt GPU clusters, you look for stable grids, political stability, and a path to add more power without triggering NIMBY wars. The Nordics check those boxes better than most European metros.
This is also about sovereign AI and data gravity. European regulators want data and AI workloads to stay in-region. A strong Nordic presence gives global operators a way to offer “EU‑friendly” AI capacity with lower energy costs than Frankfurt or Paris. That is a good foundation for neoclouds or regional AI platforms that sit on top of these facilities instead of hyperscale public cloud.
For enterprises, this is another sign that AI‑grade capacity is consolidating into a few big landlords. If Digital Realty or Equinix win, expect those Nordic sites to be marketed as “AI‑ready” zones for GPU clusters, liquid cooling, and high‑density racks. That influences where enterprises and AI startups can actually deploy large models in Europe, and how much they will pay for power and cross‑connects.
The Big Picture:
This ties into several macro trends:
AI data center construction surge: Prime power and land in tier‑one markets are constrained. Operators are expanding into energy‑advantaged regions like the Nordics to meet AI demand without blowing past grid limits or local resistance.
Energy and water constraints: GPUs are pushing rack densities into territory that makes cooling and power the first‑class design problem. Nordic climates reduce cooling overhead and help with sustainability narratives regulators care about.
Sovereign AI and neoclouds: As countries and regions push for control over data and AI workloads, regional AI hubs in places like the Nordics become strategic. Colos with strong Nordic footprints can underlay sovereign or quasi‑sovereign AI stacks while still serving global customers.
Vendor ecosystem dynamics: If either Digital Realty or Equinix secures more Nordic capacity, their competitive position for hosting AI clusters for hyperscalers, GPU cloud providers, and enterprises strengthens. That can shape where GPU vendors and neocloud players place hardware over the next cycle.
Signal Strength: High
Source: Digital Realty, Equinix Said to Vie for Nordic Data Center Firm
