Today marks a significant milestone in the European Union's journey towards becoming a global leader in artificial intelligence. At the AI Action Summit in Paris, Commission President Ursula von der Leyen unveiled the InvestAI initiative, a bold plan to mobilize €200 billion for AI investments. This initiative includes a substantial €20 billion fund dedicated to establishing AI gigafactories across Europe, aiming to transform the continent into a hub of AI innovation.
The vision behind InvestAI is to foster an environment where AI can thrive, improving healthcare, boosting research and innovation, and enhancing competitiveness. President von der Leyen emphasized the importance of a European approach to AI, one that is open, cooperative, and talent-driven. The initiative aims to create a public-private partnership akin to CERN, enabling scientists and companies of all sizes to develop advanced AI models.
The European Investment Bank, represented by President Nadia Calviño, is collaborating with the EU Commission to support AI as a key driver of innovation and productivity. The InvestAI fund will finance four AI gigafactories, each equipped with cutting-edge technology to train complex AI models. These gigafactories will house approximately 100,000 state-of-the-art AI chips, significantly surpassing the capabilities of current AI factories.
InvestAI represents the largest public-private partnership globally for developing trustworthy AI. It aligns with Europe's model of open innovation, focusing on complex industrial and mission-critical applications. The initiative ensures that even smaller companies can access the computing power needed to innovate and grow.
The funding structure of InvestAI is designed to attract diverse investors by offering a layered fund with varying risk and return profiles. Initial funding will be sourced from existing EU programs like the Digital Europe Programme and Horizon Europe, with additional contributions from Member States.
The EU has already announced the establishment of seven AI factories, with plans to unveil five more soon. This existing support, co-financed by the EU and Member States, represents the largest public investment in AI worldwide, unlocking significant private investment and providing startups and industries with access to supercomputers.
Beyond InvestAI, the EU is actively supporting AI innovation through various initiatives. These include financial support via Horizon Europe, educational programs to enhance AI talent, and investments in AI startups. The EU is also accelerating the development of Common European Data Spaces, crucial for training AI models, and launching the GenAI4EU initiative to foster novel AI applications across diverse sectors.
In summary, the InvestAI initiative is a transformative step for Europe, positioning it as a leader in AI innovation. By mobilizing unprecedented capital and fostering collaboration, the EU is paving the way for a future where AI drives growth and competitiveness across the continent.