EU Launches €20 Billion AI Initiative to Rival US and China

The European Commission unveils the AI Continent Action Plan, combining major infrastructure investments and regulatory consultations to boost innovation and competitiveness.

The European Commission has officially announced the AI Continent Action Plan, aiming to transform Europe into a global AI leader.
A €20 billion fund will support the construction of advanced AI gigafactories equipped with over 100,000 processors, targeting breakthroughs in healthcare, robotics, and biotech.
The plan includes a consultation to simplify the AI Act, addressing concerns about regulatory burdens and fostering a more innovation-friendly environment.
Efforts will focus on enhancing Europe's technological sovereignty and closing the gap with AI leaders like the US and China.
The initiative seeks to mobilize public and private investment, with the European Investment Bank playing a central role in funding large-scale AI projects.