Technology Stocks – World’s Largest Data Center Being Built

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A record-sized data center is being planned right now but you won’t find this as a technology stock yet and it probably won’t be in a neighborhood near you; unless you’re in the Arctic Circle that is. The Norwegian town of Ballangen is looking to be home to this mega structure.

Kolos who is the firm behind the project thinks that the chilled air and wealth of hydropower available around the location would keep energy costs low. However, the area is suffering from a high rate of sick leave believe it or not. This may be related to the past as it used to be a mining community.

The company has made statement saying they have already raised several million dollars for the project from a group of Norwegian private investors. It’s still working with a US investment bank, though, in order to actually confirm the remaining funds needed for the project.

These record-setting claims are being based on the overall amount of power that will be drawn on, to run computer servers. The initial draw from Kolos would be somewhere around 70 megawatts of power. They say that within ten years that they intend to have added enough server modules, which would draw something that is more like 1,000 megawatts or more.

Considering that Amazon’s data processing division is already assumed to draw roughly one thousand megawatts of power in the Ashburn, Virginia site, this may not be out of the ordinary. However, in Amazon’s case, the servers are spread out across a wide area instead of in a cluster that’s in a single center.

“There’s always a danger with this kind of thing that providers rush to build capacity that outstrips what the market requires,” added David Groombridge, research director at tech consultancy Gartner. “But in terms of data centres, it’s hard to see consumer-driven demands dropping off and there’s the promise of the internet-of-things, with millions of sensors generating information that will need to be processed. So, unless there are radical new technologies that come along very quickly to help compress data, we will need the resources that these kind of facilities provide.”

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