EU launches InvestAI: €200 billion for AI development

The European Commission has announced a €200 billion investment plan for the development of artificial intelligence. Of this amount, €20 billion is earmarked for “AI gigafactories,” which should help companies train complex AI models.

By Berry Zwets

The announcement follows the recent development of seven AI factories in Europe, with the Commission now taking an even bigger step in the AI race. These gigafactories will house about 100,000 latest-generation AI chips, four times more than current facilities.

The InvestAI program is to become the world’s largest public-private partnership to develop reliable AI. Funding will come from existing EU programs with a digital component, including the Digital Europe Programme and Horizon Europe.

The EU talks about an excellent AI infrastructure for building the most complex models and realizing Europe as an AI continent. Competition is fierce in this area. The US recently launched the Stargate plan, where $500 billion has been earmarked to strengthen AI infrastructure.

Tip: 500 billion Stargate AI infrastructure puts US in strong position

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“Our approach still needs to be supercharged. This is why, together with our Member States and with our partners, we will mobilise unprecedented capital through InvestAI for European AI gigafactories,” explained European Commission President Ursula von der Leyen. “This unique public-private partnership, akin to a CERN for AI, will enable all our scientists and companies – not just the biggest – to develop the most advanced very large models needed to make Europe an AI continent.”

An important aspect of the plan is that smaller companies will also have access to large-scale computing power for AI development.