EU Announces 30B Euro AI Development Fund
The European Union has launched a tender worth 30 billion euros to build seven giant artificial intelligence factories, aimed at enhancing its technological capabilities and compensating for its lag in the AI race compared to the United States and China. The tender involves joint funding from 18 European countries, with four projects allocated 500 million euros each, while the remaining three projects are assigned 1 billion euros each. Construction is expected to commence in early 2027, with the factories becoming operational in 2028. The goal is to elevate Europe's technological transformation and strengthen technological sovereignty within a strategic investment framework, which aims to invest approximately 200 billion euros in the AI sector.
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