EU mobilises €200 billion in investment to develop artificial intelligence

The initiative was announced by Ursula von der Leyen, President of the European Commission, at the Artificial Intelligence Action Summit in Paris, attended by representatives from more than 100 countries, including heads of state, heads of international organizations and technology companies, researchers and civil society.

Ursula von der Leyen said at the conference that the EU would provide €50 billion in public funds on top of the €150 billion pledged by the large groups participating in the alliance.

“This will be the world’s largest public-private partnership for the development of trustworthy artificial intelligence,”

she said, referring to the alliance called the EU AI Champions Initiative, which brings together more than 60 companies.

The initiative includes a €20 billion EU fund for the creation of AI gigafactories, according to a statement issued by the Commission in Brussels. These large-scale AI infrastructures will enable the open and collaborative development of artificial intelligence models and help Europe become a leader in this field.

The EU InvestAI fund will finance the creation of four AI gigafactories across the EU. These gigafactories will specialise in training the most complex and largest AI models that could lead to breakthroughs in medicine or other scientific fields. The new generation of AI models requires enormous computing capacity, so the gigafactories will have around 100,000 latest-generation AI chips, four times the capacity of the AI ​​factories currently under construction, the statement added.