EU launches InvestAI initiative

At the AI Action Summit in Paris, European Commission President Ursula von der Leyen unveiled the InvestAI initiative, aiming to mobilise €200 billion for AI investments, including a €20 billion European fund for AI gigafactories. The Commission regards these facilities as critical to Europe's ambition to lead in AI innovation.

The EU's InvestAI fund will finance four future AI gigafactories across the EU. The new AI gigafactories will be specialised in training the most complex, very large, AI models. Such next-generation models require extensive computing infrastructure for breakthroughs in specific domains such as medicine or science. The gigafactories will have around 100,000 last-generation AI chips, around four times more than the AI factories being set up right now.

The initial funding for InvestAI will come from existing EU funding programmes which have a digital component, such as the Digital Europe Programme, Horizon Europe, and InvestEU. Member States can also contribute by programming funds from their Cohesion envelopes.

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