The European Union and France have announced significant investments in artificial intelligence, aiming to position the continent as a serious competitor against the U.S. and China. At the AI Action Summit in Paris, European Commission President Ursula von der Leyen pledged €200 billion ($206 billion) in funding, reinforcing the bloc's ambition to become a global AI leader.
The new InvestAI initiative includes €50 billion ($51 billion) in fresh EU funding, supplementing €150 billion ($154 billion) from private investors under the European AI Champions Initiative. The financing will be directed toward building AI gigafactories, enhancing research, and supporting European AI startups.
"We want Europe to be one of the leading AI continents, and this means embracing a way of life where AI is everywhere," von der Leyen said. "Too often I hear that Europe is late to the race where the United States or China have already gotten ahead. I disagree, because the AI race is far from being over."