Market & Regulation
EU opens €10bn AI gigafactory scheme applications
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Why it matters
- →This initiative aims to strengthen Europe's AI infrastructure and reduce dependency on non-European resources.
- →It represents a significant investment in tech sovereignty, with €10bn in public funding and €20bn expected in total investment.
- →The project could accelerate the development and deployment of AI technologies across the continent.
The European Commission has opened applications for its ambitious €10bn AI gigafactory scheme, inviting companies to bid for contracts to build up to seven AI data centers across Europe. This initiative is part of the EU's effort to enhance its tech infrastructure and reduce dependency on non-European AI resources. The scheme includes both smaller facilities and larger gigafactories, with public funding ranging from €500m to €1bn per project. Construction is slated to begin in 2027, contingent on future budget approvals. The EU has already engaged with US chipmakers to ensure hardware availability for these projects.
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