InvestAI initiative mobilising €200 billion of investment in artificial intelligence
At the Artificial Intelligence (AI) Action Summit in Paris, European Commission President Ursula von der Leyen unveiled InvestAI, a groundbreaking initiative aimed at mobilizing €200 billion for AI investments. This includes the establishment of a new €20 billion European fund dedicated to AI gigafactories—large-scale AI infrastructure designed to foster open and collaborative development of advanced AI models, positioning Europe as a global leader in AI innovation.
AI Gigafactories: Advancing Europe’s AI Capabilities
The InvestAI fund will finance the development of four AI gigafactories across the European Union. These facilities will specialize in training next-generation, highly complex AI models, requiring substantial computing infrastructure for transformative breakthroughs in domains such as medicine and science. Each gigafactory will be equipped with approximately 100,000 state-of-the-art AI chips, representing a fourfold increase over current AI factories.
These gigafactories will form the largest public-private partnership worldwide for the development of trustworthy AI. Their mission aligns with Europe’s model of cooperative, open innovation, with a particular focus on industrial and mission-critical applications. The initiative aims to democratize access to large-scale computing power, ensuring that AI development is not limited to the largest corporations but is accessible to a broad range of businesses and innovators.
Funding Structure and Strategic Investment
InvestAI will operate as a layered investment fund, incorporating different risk and return profiles to attract diverse investors. The EU budget will play a key role in de-risking investments for private and institutional partners. The Commission’s initial financial support will be sourced from existing EU funding programs with a digital focus, including:
- Digital Europe Programme
- Horizon Europe
- InvestEU
Additionally, Member States can contribute by allocating resources from their Cohesion envelopes. The financing of AI gigafactories, using a mix of grants and equity, will serve as a pilot case for strategic technology investments outlined in the Competitiveness Compass.
Scaling Up AI Infrastructure
The European Commission has already committed €10 billion to fund the initial seven AI factories, announced in December 2023, with an additional five factories set to be unveiled soon. This investment, co-financed by the EU and Member States, represents the largest public AI funding initiative globally. It is expected to generate over ten times more private investment, significantly expanding access to supercomputing resources for startups and industry players.
Complementary AI Innovation Initiatives
Alongside InvestAI, the Commission is implementing a series of complementary measures to accelerate AI development and adoption across Europe. These initiatives include:
- Financial support through Horizon Europe and the Digital Europe Programme, specifically targeting generative AI.
- Talent development programs, including education, training, skilling, and reskilling to strengthen Europe’s AI workforce.
- Increased investment in AI startups and scale-ups, facilitated through venture capital and equity support.
- Development of Common European Data Spaces, providing AI researchers and developers with essential datasets to enhance AI model training and performance.
- The ‘GenAI4EU’ initiative, supporting emerging AI applications in 14 industrial ecosystems, including robotics, healthcare, biotechnology, manufacturing, mobility, climate science, and virtual environments.
Future AI Governance and Adoption Strategies
To further consolidate Europe’s leadership in AI research and governance, the Commission will establish a European AI Research Council, enabling resource pooling and strategic coordination in AI and data-driven technologies. Later this year, the ‘Apply AI’ initiative will be launched to drive industrial adoption of AI in key sectors, reinforcing Europe’s position at the forefront of global AI innovation.
The press release and President von der Leyen’s speech are available online.
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