EU seeks to invest €200 billion in AI

The European Commission announced the mobilization of €200 billion (about $207 billion) for the InvestAI plan at the AI Action Summit in Paris on Tuesday, with the aim of enabling “open and collaborative development” of artificial intelligence in Europe. This was announced by Commission President Ursula Von der Leyen, who has also opened a new EU fund of €20 billion for AI gigafactories.

The strategy will thus finance four future AI gigafactories in the European Union (EU), which will specialize in training the largest and most complex models. These facilities will have around 100,000 state-of-the-art chips, approximately four times more than the centers currently under construction.

It is intended that companies of all sizes will have access to this computing power. These will have a focus on complex industrial and “mission critical” applications. Initial funding will come from different schemes, such as the Digital Europe Program and Horizon Europe and InvestEU.