EU announces €10 billion to finance seven AI gigafactories and reduce gap between US and China in technology

ChatGPT's artificial intelligence goes out of control and hacks startup The European Union (EU) will finance the construction of seven artificial intelligence (AI) gigafactories in the bloc's countries, in an investment of €10 billion (US$11.5 billion), the European Commission reported this Thursday (30). The initiative is part of the EU's efforts to reduce the technological gap with the United States and China. The Commission has said it aims to attract at least €20 billion in private investment for the projects. Initially, the plan envisaged the construction of five gigafactories, but the number was increased to seven due to strong interest from the bloc's countries. The facilities will bring together advanced AI processors, software, cloud technology, high-speed connectivity and data centers. They will be added to the 19 AI factories that already exist in different European Union countries. European Union Flags Stephanie Lecocq/Reuters "Access to the raw scale of computing power within AI gigafactories is a strategic necessity for Europe as AI development accelerates," Henna Virkkunen, the European Union's chief technology officer, said in a statement. Technology companies, cloud service providers, public entities and investors will be able to form consortiums or special purpose vehicles to apply for participation in gigafactories. The application process ends on November 12th. The Commission expects to announce the winners in early 2027, and the facilities are expected to come into operation within 18 months of contracts being signed. The companies AMD, Nvidia and Qualcomm signed letters of intent with the European Commission to supply chips to groups involved in gigafactory projects. Plane that will take the longest route in the world makes a 24-hour direct flight WhatsApp gains usernames and will not need a number to start a conversation