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EU to mobilize 200B Euros to invest in AI
The European Commission also announced a fund specific to AI gigafactories to allow companies to train their AI models.
Europe will mobilise €200bn euro for investment in artificial intelligence, European Commission President Ursula von der Leyen announced at the AI Action Summit in Paris today. 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. Funding of 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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