Pure Data Centres, backed by Oaktree Capital, announced on Monday plans to invest up to 1 billion euros ($1.17 billion) in a new data centre campus in Amsterdam, marking one of the largest hyperscale data centre projects unveiled in Europe this year.

The campus is set to be leased to a single “hyperscaler” tenant, highlighting the growing demand from major cloud service providers for dedicated infrastructure to support artificial intelligence and other high-performance computing needs.

Hyperscalers such as Amazon, Meta, Google, and Microsoft are expected to collectively spend hundreds of billions of dollars on AI and cloud infrastructure in 2025, according to recent company filings. While Europe has seen a wave of planned data centre projects this year, it is less common for a development to secure a tenant lease ahead of construction, underlining the strategic importance of the Amsterdam site.

Construction of the campus is scheduled to begin in January 2026, with a phased delivery expected to start in 2028, Pure Data Centres said. The project underscores the region’s growing role in the global hyperscale and AI infrastructure ecosystem, as demand for cloud services and data processing capabilities continues to accelerate.