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Europe's $550bn AI push

Europe's $550bn AI push

European Commission President Ursula von der Leyen said Europe needs at least €500 billion (about $550 billion) in investment to strengthen its technological sovereignty and compete with global powers in artificial intelligence. The plans include building seven massive computing facilities at a cost of nearly €30 billion, as well as supporting the chip industry, developing models, and attracting private investment. European Council President António Costa stressed the importance of scientific research, securing supply chains, and clean energy. The issue is to be discussed again at a Council meeting in Belgium in February 2027.

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