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Italy’s Data Centre Investments Set to Surge to €10 Billion by 2025-26

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Italy’s data centre investments are projected to reach €10 billion ($10.3 billion) in the 2025-2026 period, marking a substantial increase from the previous two years. This growth is driven by major technology firms eager to expand their cloud infrastructure to meet rising demand, particularly fueled by artificial intelligence (AI). According to a report from Milan Polytechnic University’s research hub, these investments will play a crucial role in boosting Italy’s technological capabilities.

However, the country faces challenges in accommodating this surge in investment. The report highlights potential bottlenecks in the power grid and the high cost of energy, which could impede the expansion of data centres. As large cloud developers, such as Microsoft and Amazon Web Services (AWS), ramp up their spending plans, access to affordable and reliable energy is becoming increasingly critical.

For context, Microsoft announced a €4.3 billion investment in Italy’s cloud network last year, while AWS committed to a €1.2 billion investment over five years. Despite these positive developments, concerns persist about the sustainability of the Italian electricity grid and its ability to support the growing demand for energy-intensive data centres. Marina Natalucci, director of the research hub, emphasized the need to address these energy supply challenges as Italy attracts more investments from global tech giants.

 

Italy Concludes Probe into Meta Executives for Alleged €887.6 Million VAT Evasion

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Italian prosecutors have concluded their investigation into alleged tax evasion by Meta (META.O), the parent company of Facebook, involving two executives from its Irish subsidiary, Meta Platforms Ireland Ltd. The probe centers on a claimed €887.6 million ($937.93 million) in VAT evasion. This marks a significant step in the process, although no trial requests have been made yet, as the suspects are still allowed to prove their innocence.

Implications for the Industry

The case could have broader consequences for the tech industry, as it involves how Meta provides access to its platforms like Facebook and Instagram. While the €887.6 million might seem modest compared to Meta’s $32 billion in annual revenue, the issue revolves around the way user data is exchanged for free access to these services, which could set a precedent for how other tech companies are taxed.

Tax Dispute with Italy’s Revenue Agency

The core of the investigation is tied to ongoing negotiations between Meta and Italy’s Revenue Agency. Last year, Italian tax authorities argued that Meta’s user registrations should be considered taxable transactions, as they involve the non-monetary exchange of personal data for access to social media services. The authorities claim that between 2015 and 2021, Meta failed to declare nearly €4 billion in taxable income, leading to VAT evasion of more than €887 million.

Next Steps and Meta’s Response

Meta has 60 days to respond to the Revenue Agency’s observations, after which the company can either settle by paying the proposed amount or initiate a legal challenge. Meta disagrees with the tax authority’s stance, arguing that providing users with access to its platforms should not be subject to VAT. In response to the dispute’s complexity, Italy’s Ministry of Finance has sought a technical opinion from the European Commission’s VAT Committee, though no response has been received yet.

La Dolce Vita Orient Express: Indulge in Italy’s Culinary Journey in Luxury

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This week’s travel roundup highlights the exciting La Dolce Vita Orient Express train, new hotel openings in Italy, and some fascinating global travel news.

The La Dolce Vita Orient Express train promises an extravagant dining experience, with Michelin-starred chef Heinz Beck crafting a menu that reflects the diverse culinary traditions of the 14 Italian regions featured on the train’s eight routes. Highlights include a truffle-themed journey between Rome and Nizza Monferrato, and a tour through the Tuscan vineyards of Montalcino. The train is set to launch in spring 2025, with prices starting at 3,500 euros ($3,794) per person. This luxurious train aims to capture the chic allure of 1960s and 1970s Italy, differing from the original Orient Express’s 1920s aesthetic.

In addition to the train, the Orient Express brand is introducing its first hotels, starting with the Orient Express La Minerva in Rome, followed by the Orient Express Palazzo Donà Giovannelli in Venice. More details about these hotel openings will be announced later this year.

For train enthusiasts, Vietnam’s Revolution Express is also on the horizon. Two refurbished steam trains from the 1960s are expected to begin service in 2025, connecting the coastal city of Da Nang with the historic capital of Hue.

Food, Drink, and Legal Intrigues

In the realm of culinary crime, a gang has made headlines for stealing over 24 tons of artisanal cheese from a renowned UK dairy. This theft follows a significant bust in France and Italy, where counterfeit French wine was discovered being sold for an astonishing $16,000 per bottle. As a precaution, travelers should be wary of dubious wine-and-cheese offers.

Meanwhile, traditional alcoholic beverages are seeing a resurgence in popularity. In Japan, doburoku, once illegal, is gaining favor again. Similarly, Ireland’s poitín, notorious in the past, is now a legally protected spirit. In Germany, a butcher is creatively addressing the raccoon population by crafting sausages, humorously referred to as “raccoon balls.”

Lands of Fire and Ice

In southwestern Turkey, near Antalya, the Yanartaş mountain is famous for its eternally burning flames, which have captivated visitors since ancient times. While scientific explanations have emerged for this phenomenon, the legendary tales surrounding it add to its allure.

Conversely, Antarctica offers stunning contrasts with its colossal icebergs, some formed millions of years ago from ancient glaciers. This stark, frozen landscape has transformed into a sought-after vacation destination. For those planning chilly adventures, CNN Underscored recommends some of the best hand warmers for 2024.

Impact of Hurricane Helene

Western North Carolina, renowned for its stunning fall foliage, faces a staggering $2.1 billion loss in tourism due to the destruction caused by Hurricane Helene. Local business owners are eager for support from visitors as they recover from the devastating impact of the storm.