VOLT, an AI infrastructure developer and operator, has announced that Nebius, an AI infrastructure and cloud computing company, has signed a letter of intent (LOI) to become the first off-taker at VOLT’s Dutch AI Gigafactory in Rotterdam, Netherlands.
The AI Gigafactory is planned as one campus with six buildings and a total IT capacity of 600 MW. Two buildings, each with 100 MW of IT capacity, will be built during the first phase of development, which is estimated to draw an investment of € 7 billion (US$ 7.83 billion). According to a press release from VOLT, this is an investment estimate, not a contract value, and realization of the project depends on definitive agreements, financing, permits, and the required energy and grid capacity.
“We want Europe to be successful on the global stage,” said Arkady Volozh, Nebius Chief Executive Officer. “As we continue to build out trusted AI infrastructure around the world, we are supporting the Rotterdam AI Gigafactory and working with leading Dutch entrepreneurs to strengthen the Netherlands’ independent AI capacity.”
“AI is developing extremely rapidly, while building the infrastructure in the Netherlands takes years. That is why we must press ahead now. What we make possible today determines what the Netherlands will be able to do in the future,” said Han de Groot, VOLT Founder and Chief Executive Officer.
VOLT is leading development of the AI Gigafactory and has partnered with Eneco for the energy supply. While Nebius intends to purchase capacity for its AI operations, how much capacity it intends to purchase is unclear. VOLT has said that during the first phase of the development it anticipates that approximately € 4.5 billion (US$ 5.03 billion) will be invested in AI chip infrastructure.
The facility will serve as a connection between public and private partners to strengthen AI capabilities in Europe. Dutch AI Gigafactory aims to serve cloud providers, telecom and connectivity providers, GPU infrastructure partners, researchers, enterprises, and governments. The facility was announced in April 2026 and in July VOLT announced it was building the Dutch AI Cloud in Amsterdam as a precursor to the AI Gigafactory.
VOLT is also building two other AI factories. Construction on a 29 to 129 MW facility in Dubai is expected to begin in 2027, with a 150 MW facility in Hyderabad, India, also expected to begin the same year.