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EU will put over $200 billion toward AI development

This week is the AI Action Summit in Paris and the European Union is using it as an opportunity to deep dive into the growing sector. The bloc has announced it's putting €200 billion ($206 billion) toward AI development. This number includes €20 billion ($20.6 billion) for AI gigafactories that process and train large models. 
European Commission President Ursula von der Leyen announced the plan, called InvestAI, at the AI Action Summit on Tuesday. She pushed the position that Europe isn't late to the competition against China and the US. "The frontier is constantly moving, leadership is still up for grabs, and behind the frontier is the whole world of AI adoption," von der Leyen stated. "Bringing AI to industry-specific applications and harnessing its power for productivity and for people, and this is where Europe can truly lead the race.”
The news follows France announcement that private investments are funneling €109 billion ($112.5 billion) into its AI ecosystem. The country is also committing a gigawatt of nuclear power for an AI computing project led by FluidStack. It will use Nvidia-made chips. 
January was a big month for AI growth in the US and China. In the US, OpenAI and SoftBank announced a $500 billion partnership called Stargate to create AI infrastructure. Then Chinese AI assistant DeepSeek exploded onto the global stage, with the company claiming it offers the same quality as its competitors — but cost a lot less to built.  This article originally appeared on Engadget at https://www.engadget.com/ai/eu-will-put-over-200-billion-toward-ai-development-150036706.html?src=rss