EU Launches AI ‘Gigafactory’ Initiative with EIB Partnership
The European Commission has formalized a partnership with the European Investment Bank and European Investment Fund to develop AI “gigafactories” across the continent. The initiative aims to establish Europe as a global AI leader through massive computing infrastructure investments totaling €20 billion specifically for these facilities.
Europe is making its most ambitious play yet to compete in the global artificial intelligence race, with the European Commission reportedly finalizing a strategic partnership with the continent’s leading financial institutions to build what officials are calling “AI gigafactories.”