Europe will construct AI "gigafactories" for €20 billion

The European Union plans to build AI "gigafactories" with powerful supercomputers, representing a €20 billion investment. These facilities will be significantly larger than existing AI factories, aiming for major innovations in various sectors. The goal is to enhance Europe's competitiveness and reduce the gap with the US and China. The initiative involves creating three to five gigafactories, costing between €3-5 billion each, compared to the existing factories at €600 million. The EU intends to secure €20 billion using public funds to attract private investors, promoting the development of European-made AI semiconductors. Additionally, the European Commission is considering potential modifications to the recently approved AI Act, which regulates AI technology. This is part of a wider effort to reduce bureaucracy, a move criticized by some groups. The EU aims to remain committed to the AI Act's core principles.