EU Commits €20 Billion to Build Five AI Gigafactories Across Europe in Push for Tech Independence
Summary
The European Union announces a massive €20 billion investment to construct five AI gigafactories across Europe, each housing 100,000 advanced AI chips to train complex models for medicine, cleantech, and space applications in a bold bid for technological independence from global competitors.
Key Points
- EIB Group and European Commission sign Memorandum of Understanding to jointly finance up to five AI gigafactories across Europe to boost EU technological independence
- Each gigafactory will operate approximately 100,000 advanced AI chips and train complex AI models for applications in medicine, cleantech and space sectors
- European Commission commits €20 billion through InvestAI initiative while EIB Group explores supplementing grants with loans under its €250 billion TechEU programme