SoftBank to invest €45B in AI data centers in France by 2031

SoftBank just committed €45 billion to building AI data centers in France over the next five years. That’s roughly the entire annual GDP of Slovenia, poured into server farms in northern France.

The Japanese conglomerate’s CEO Masayoshi Son described the project as the largest AI infrastructure investment in Europe. And the numbers back him up: the initial phase alone targets 3.1 gigawatts of AI data center capacity in the Hauts-de-France region by 2031, with a broader vision that could eventually reach €75 billion and 5 GW total.

What SoftBank is actually building

The investment centers on two key sites in the Hauts-de-France region. Dunkirk, the northern port city, is expected to house a data center that goes operational by 2031. Le Bosquel, a smaller commune, is on a faster timeline with a target date of 2028.

The €45 billion figure represents the initial five-year commitment. But SoftBank has signaled this could grow to as much as €75 billion, approximately $87 billion, if the broader buildout reaches its full 5 GW target.

This isn’t Son’s first flirtation with massive AI spending in France. Discussions about potential investments of up to $100 billion in AI-related projects in France surfaced as early as May 2026, setting the stage for this formal announcement.

Why France, and why now

The announcement lands squarely within President Emmanuel Macron’s “Choose France” initiative, the government’s ongoing campaign to lure foreign capital into the country.

Northern France checks several practical boxes. The Hauts-de-France region offers proximity to the Gravelines nuclear power plant, one of the largest in Western Europe, and Dunkirk specifically has been courting heavy industrial investment for years. France’s nuclear-heavy energy grid also gives data center operators a cleaner carbon profile than building in countries more dependent on fossil fuels.

Son’s pivot toward Europe is notable given that much of SoftBank’s recent AI-related investment activity has focused on the US, with its Vision Fund portfolio heavily weighted toward American and Asian startups.

What this means for investors

The energy angle deserves attention. Building 3.1 GW of data center capacity requires securing enormous power contracts. France’s state-controlled energy sector, anchored by EDF and its nuclear fleet, will likely be a primary beneficiary.

There are risks worth watching. SoftBank’s track record with massive bets is mixed — the Vision Fund’s early vintages included WeWork and other investments that didn’t inspire confidence. Construction timelines for projects of this magnitude frequently slip. For France specifically, the Le Bosquel site approaches its 2028 operational target as the nearest concrete milestone investors can track.

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