Finnish energy company Fortum is currently in negotiations with several data center builders and operators to supply energy through long-term contracts, CEO Markus Rauramo revealed during the company's capital markets day, according to Bloomberg News.
“Discussions are actively ongoing with both hyperscalers and co-locators,” Rauramo stated, adding that the company is engaged in a range of talks.
Hyperscalers refers to major cloud service providers, while a "co-locator" is a company or individual that rents space in an external data center to house their own IT equipment, such as servers and storage devices.
Fortum's shares dropped sharply on Tuesday after the company failed to mention data centers in its press release ahead of the event. However, Rauramo has now provided some level of guidance on the matter. At the time of writing, the stock is down just over 7 percent.
