US EditionEuropean Investment Bank Group Backs Commission's AI Gigafactory Plan
The €20 billion plan includes four to five gigafactories hosting around 100,000 AI chips each, with 70% funding from private investors, to boost EU AI infrastructure.
- On Thursday, the European Investment Bank Group confirmed it will support the Commission's AI gigafactory plan, signing an agreement in Brussels with Henna Virkkunen, Nadia Calviño and Merete Clausen.
- Building on InvestAI initiative, announced earlier this year by Commission President Ursula von der Leyen, the plan aims to mobilise 200 billion in AI investment, with 20 billion for four to five gigafactories.
- Each planned gigafactory will host around 100,000 AI chips, likely filled with Nvidia GPUs, while chips will mostly be sourced from the United States due to limited EU domestic chip production.
- The EU will accept bids to build the gigafactories, launching the bid process Thursday to select EU-based gigafactory bidders and enable small companies and start-ups to access large-scale computing.
- Amid an accelerating AI arms race, the European Union aims to shore up domestic AI infrastructure and reduce dependence on American tech companies as Europe lags behind the US and Asia.
13 Articles
13 Articles
European Investment Bank Group backs Commission's AI gigafactory plan
With €20 billion in public funding and EIB support, the European Commission is planning giant AI facilities to give companies and startups access to the massive computing power they need to keep up in the tech race.
EU Commission and European Investment Bank join forces on AI gigafactories
In a new agreement with the EU Commission, the European Investment Bank will provide technical and financial support to parties interested in build AI gigafactories on the continent. But the EU's own statistics show that only 13 percent of businesses currently use AI systems in their operation
VIDEO - At a press briefing on artificial intelligence-enabled gigafactories on Thursday 4 December, Europe announces funding of €230 billion for this project.
EIB Group and European Commission join forces to finance AI gigafactories - The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com EIB News
(Credit: Unsplash) This article is published in association with European Investment Bank. EIB Group and European Commission team up to support next generation of artificial intelligence factories in Europe. Goal is to spur development of AI gigafactories in EU. EIB Group to provide advisory and possible financing for AI gigafactories. The European Investment Bank (EIB) Group and the European Commission are stepping up joint support for the dev…
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