France attracts $108 billion in foreign investment, half for SoftBank data centres
The investment is part of a record €93 billion pledge at the summit, with 71 projects expected to create more than 15,600 jobs, Macron said.
- On Monday, President Emmanuel Macron announced a record €93 billion in foreign investment pledges at the annual Choose France summit, with half destined for a SoftBank-backed data centre project.
- Macron is leveraging France's fleet of 57 nuclear reactors to provide electricity surplus for power-hungry data centres, a strategy CEO Masayoshi Son said allows the country to convert raw materials into high-value intelligence.
- SoftBank will spend €45 billion to build three data centres in the Hauts-de-France region by 2031 with combined capacity of 3.1 gigawatts, though Son said the investment could potentially rise to €75 billion.
- The 71 projects unveiled at this year's Choose France summit are expected to create more than 15,600 jobs, surpassing the combined investment total announced between 2018 and 2025.
- This investment aligns with SoftBank's global infrastructure strategy, which includes an 11% stake in ChatGPT developer OpenAI and financing for the €500 billion Stargate project to build data centres across the United States.
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On the occasion of the Choose France Summit, three new infrastructures related to artificial intelligence were announced in the Hauts-de-France. They are in addition to several large-scale projects already under construction in Hexagon.
A meeting with France's President Macron apparently marked the decisive factor in the Japanese company's huge investment in France. The country's nuclear power is expected to drive new data centers.
France attracts $108 billion in foreign investment, half for SoftBank data centres
Companies have pledged to invest €93 billion ($108 billion) in France, with half destined for a SoftBank-backed data centre project, as President Emmanuel Macron seeks to leverage nuclear capacity to make the country a global AI leader.
Once again, the promises of investment in data centers have been abounded during the new edition of Choose France. France, thanks to the abundant nuclear electricity inherited from the decisions of the 1970s, attracts these "digital factories" which are also energy ogres. However, calls for prudence are increasing, due to the electricity consumption and frequent opposition of the residents.
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