EU plans €200 billion investment to boost artificial intelligence industry

Ursula von der Leyen, the EU chief, announced a plan to invest €200 billion in Europe's artificial intelligence (AI) industry at a summit in Paris. The EU will contribute €50 billion, with the rest coming from private investors and companies. The investment includes €20 billion for four AI gigafactories to support the development of complex AI models. This funding will enhance existing programs and aims to stimulate new companies in the sector. Over 60 European companies, including Airbus and Volkswagen, have pledged to support this initiative. They plan to attract €150 billion from international investors for AI opportunities in Europe over the next five years.