EU's AI push to get 50 billion euro boost, says von der Leyen
Technology
EU's AI push to get 50 billion euro boost, says von der Leyen
PARIS (Reuters) - The European Union will provide 50 billion euros ($51.6 billion) of EU funds to bolster the bloc's artificial intelligence ambitions, European Commission President Ursula von der Leyen said on Tuesday, as countries race to lead in the technology.
"Thereby we aim to mobilise a total of 200 billion euros for AI investments in Europe," von der Leyen told the Paris AI Summit.
The EU funding is significantly less, however, than the up to $500 billion of U.S. private sector investment announced by President Donald Trump last month for AI infrastructure.
Von der Leyen said EU investments will focus on industrial and mission-critical technologies.
The EU executive said 20 billion of the 50 billion euros EU funding will finance the construction of four AI gigafactories across the 27-country bloc, adding to seven such factories announced last December.
