Financial Insights That Matter
Posted By Global Banking and Finance Review
Posted on January 16, 2025
MILAN (Reuters) – Investments into Italy’s data centres will double to 10 billion euros ($10.3 billion) in the 2025-2026 period compared with the previous two years as technology heavyweights roll out spending plans, a research hub of Milan Polytechnic University said on Thursday.
The country however has to tackle potential power grid bottlenecks and high energy costs to support investments in the country, the report said, adding that access to cheap power has emerged as increasingly attractive for large cloud developers.
WHY DOES IT MATTERS
Italy is looking to attract investments from heavyweight technology firms, which are keen to boost their cloud capacity to meet growing AI-driven demand.
CONTEXT
Last year Microsoft announced a plan to invest 4.3 billion euros in Italy to develop its cloud network there. Amazon Web Services (AWS) said it would invest 1.2 billion euro over five years.
KEY QUOTES
“The development of increasingly powerful infrastructures raises questions about their energy supply and the sustainability of the Italian electricity grid,” said Marina Natalucci, director of the data centre research hub.
($1 = 0.9718 euros)
(Reporting by Elvira Pollina; Editing by Keith Weir)
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