Paris - The EU will mobilize €200 billion ($206.5 billion) for artificial intelligence investments, announced European Commission President Ursula von der Leyen at the AI Action Summit. This includes a €50 billion top-up to the previously announced €150 billion from investors and industry.
The initiative, called InvestAI, aims to make Europe a leader in AI, focusing on industrial and mission-critical applications. The EU also plans a €20 billion fund for AI 'gigafactories' to train AI models and provide necessary infrastructure. These gigafactories will be the world's largest public-private partnership for trustworthy AI development, similar to CERN, allowing companies access to computing power for innovation.