European Infrastructure: EU Data centre deep dive - Quantifying the potential opportunity.

研报英文原文证据摘录

European Infrastructure: EU Data centre deep dive - Quantifying the potential opportunity.

Global Research

15 July 2026ab

European Infrastructure Equities

Europe including UKEU Data centre deep dive - Quantifying the

potential opportunity. Transportation Services

Cristian Nedelcu, CFA

Analyst

cristian.nedelcu@ubs.com

Europe's AI Infrastructure build-out is accelerating +44-20-7568 4375

Europe is materially underpenetrated in data centre infrastructure, accounting for only Amal Patel

c.12-13% of global planned and under-construction capacity despite growing political Analyst

support for digital sovereignty and AI investment. We believe a combination of amal.patel@ubs.com

increasing resistance to data centre development in parts of the US, the EU's focus on +44-20-7568 3973

technology sovereignty, and France's unique advantage of abundant low-cost nuclear Rory McKenzie

power could drive a meaningful acceleration in European data centre construction over Analyst

the coming years. Recent project announcements alone, including SoftBank, Brookfield/ rory.mckenzie@ubs.com

Data4 and Ardian-Verne in France, suggest the European growth opportunity may be +44-20-7568 1977

significantly larger than previously anticipated. We believe the large French multi- Julian Radlinger, CFA

technical solutions providers are well set to benefit from the acceleration in French/ Analyst

EU data centre construction over the next years. We believe this opportunity is under- julian.radlinger@ubs.com

appreciated by investors, leaving optionality if our thesis proves correct. We would +44-20-7901 6558

expect to see an acceleration in projects awarded over the next quarters with scope for

investors to start to price in the opportunity.

A large opportunity is emerging for European M+E contractors