€50bn Croatia AI data centre investment announced
Author: Joe Peck
Pantheon Atlas, a transatlantic-led investment group, has announced plans to develop a hyperscale AI data centre and innovation campus in Topusko, Croatia, with total investment expected to exceed €50 billion (£43 billion).
This is reportedly the largest investment of its kind in Croatian history and among the largest private US investments in Europe.
The project, known as Pantheon AI, is intended to address growing demand for AI-driven data centre capacity across Europe, where availability of power, land, and construction resources remains constrained.
The development is being delivered by a transatlantic investment group combining US capital with local expertise in Croatia, including regulatory and grid access experience. The announcement was made at the Three Seas Initiative Summit in Dubrovnik.
Pantheon AI is designed to meet NVIDIA’s gigawatt-scale AI factory standards and is expected to offer high levels of availability, exceeding Tier IV benchmarks.
Jako Andabak, Founding Partner at Pantheon AI, comments, “Pantheon AI is a signal to the world that Croatia is open for the highest-caliber investment.
“This project is the culmination of years of work to bring world-class digital infrastructure to Croatia.”
Addressing European data centre capacity
Across Europe, established data centre markets are operating with limited vacancy, while grid connection delays continue to affect new developments.
Demand in Central and Eastern Europe is expected to increase significantly by 2035, particularly as AI workloads expand and regulatory requirements encourage data to be stored within EU borders.
Ryan Rich, Managing Partner at Pantheon AI, explains, “We have assembled a transatlantic partnership to solve one of the most pressing challenges in global digital infrastructure: enabling hyperscale operators to meet AI-driven demand at scale.”
The project is expected to support up to 5.2 GW of renewable energy integration into Croatia’s grid. It will include an on-site solar installation and battery storage, alongside multiple fibre connections across European network corridors.
Joshua Volz, Special Envoy for Global Energy Integration at the US Department of Energy, says, “Critical infrastructure of this scale, built by the private sector responding to real market demand, is exactly how US interests and European security advance together.”
Construction of the campus is scheduled to begin in early 2027, with operations expected to start in the first quarter of 2029. The initial phase represents a €12 billion (£10 billion) investment, with additional funding anticipated as tenants deploy infrastructure.
The campus will have a planned capacity of 1GW, including 800MW of usable IT load, and will span approximately 310 acres (1.2 km²), with expansion potential. The development is expected to create around 1,500 permanent roles, alongside 3,000 jobs during construction.
