Artificial intelligence is rapidly transforming industries, from healthcare to finance.
Governments worldwide are racing to invest in AI to stay competitive, and the European Union is no exception. In a bold new move, the EU is rolling out a major initiative to accelerate its AI capabilities.
As reported by El Economista, the European Commission has launched InvestAI, an initiative designed to mobilize €200 billion in AI investments.
A key component of this effort is a €20 billion fund dedicated to building four AI gigafactories across the bloc.
These facilities will focus on training advanced AI models, requiring cutting-edge infrastructure with approximately 100,000 high-performance AI chips.
A Public-Private Partnership for AI Leadership
European Commission President Ursula von der Leyen unveiled InvestAI at the AI Summit in Paris, emphasizing the importance of collaboration between governments and private entities.
"Together with our member states and partners, we will mobilize unprecedented capital through InvestAI for European AI gigafactories.
This unique public-private partnership, similar to CERN for AI, will enable our scientists and companies, not just the largest ones, to develop the most advanced models to make Europe a continent of AI," she stated.
The European Investment Bank (EIB) will support the initiative, according to its president, Nadia Calviño.
The funding for InvestAI will come from existing EU programs, including Digital Europe, Horizon Europe, and InvestEU.
Member states are also encouraged to contribute through Cohesion Funds.
Aiming for AI Sovereignty
The EU has been striving to reduce its reliance on foreign AI technologies.
The creation of gigafactories represents a significant step toward AI sovereignty, ensuring that European companies have access to the infrastructure needed to compete globally.
By combining public and private investments, the EU hopes to position itself as a leader in AI innovation, driving economic growth while maintaining technological independence.
