Portugal could attract more than US$40 billion in US technology investment by 2031, becoming Europe's largest hub for American AI infrastructure, according to US Ambassador to Portugal John Arrigo.
Speaking at the ceremony marking the successful connection of Google's Nuvem transatlantic cable, Arrigo described the project as a milestone in the growing strategic partnership between Portugal and the United States. He urged Europe to follow Portugal's example by building its digital future with trusted US partners, warning that failing to do so could leave the continent at a competitive disadvantage.
The ambassador said the Nuvem cable is "the clearest sign" of the strengthening bilateral relationship and added that more than US$40 billion in US technology investment is expected to flow into Portugal by 2031. If realised, this would make Portugal home to the largest concentration of American AI infrastructure investment in Europe.
Portugal is also expanding its digital infrastructure at pace. More than 2.6 GW of data centre capacity is currently under development, led by the 1.2 GW Start Campus project in Sines, south of Lisbon, backed by US investment firm Davidson Kempner.
According to Arrigo, the United States is already Portugal's third-largest foreign investor, with nearly US$20 billion invested across sectors including artificial intelligence, energy, agriculture and tourism.
The ambassador also praised Portugal's sovereign cloud framework, saying it strikes the right balance between attracting global technology partners such as Google and protecting strategic national interests.
"This is exactly the model Europe needs right now," Arrigo said. "The choice is not between sovereignty and partnership. It is between building the digital future with trusted allies or trying to build it alone and falling behind."
Exchange rate at the time of reporting: US$1 = €0.8767.
