The EU will mobilize 200 billion euros for investments in AI!
Europe will mobilise €200 billion for investment in artificial intelligence, European Commission President Ursula von der Leyen announced at the AI Action Summit in Paris today. Of this, €20 billion will be earmarked for AI gigafactories, which the Commission says are needed to enable the "collaborative development" of more complex AI models.
The announcement comes after French President Emmanuel Macron announced on Sunday a €109 billion investment plan for AI projects in France in the coming years. Macron said the investment is "the equivalent for France of what the US announced with 'Stargate,'" referring to OpenAI's $500 billion program.
Von der Leyen said she wants "AI to be a force for good and for growth ." "We are doing this through our European approach based on openness, cooperation and great talent. But our approach still needs to be higher. That is why, together with our member states and our partners, we will mobilise unprecedented capital through InvestAI for European AI gigafactories ," she added.
Last month, newly installed US President Donald Trump announced a joint venture, with Stargate, OpenAI, Oracle and Softbank, to invest billions of dollars in AI infrastructure in the country. The joint venture team will create a separate company, distributing $100 billion (€96 billion) immediately and increasing the investment to $500 billion (€480 billion) over the next four years.
The Commission announced seven initial AI factories in December and will soon announce the next five. The gigafactories will house around 100,000 next-generation AI chips, around four times as many as the AI factories currently being built. The aim is to give companies, including smaller ones, access to large-scale computing power for future development.
Last year, French AI developer Mistral AI warned of the high demand for using supercomputing hardware to train models.
According to the EU executive, the gigafactories funded through InvestAI aim to be the world's largest public-private partnership for the development of trustworthy artificial intelligence. The Commission's initial funding for InvestAI will come from existing EU funding programmes that have a digital component, such as the Digital Europe Programme, Horizon Europe and InvestEU.
EU member states can also contribute by making investments from existing dedicated cohesion funds. Funding AI gigafactories with a mix of grants and equity will serve as one of the pilot cases for strategic technologies announced in the EU's Competitiveness Compass, its strategy for boosting growth.
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