EU launches €20 billion AI Gigafactories initiative to boost innovation

The European Commission has launched its AI Continent Action Plan, aiming to enhance Europe's competitiveness in artificial intelligence against the US and China. This initiative includes the establishment of AI gigafactories, large-scale computing facilities with up to 100,000 advanced AI chips each, backed by a €20 billion fund. The plan also emphasizes improving access to high-quality data and fostering public-private partnerships, while addressing concerns over strict privacy regulations that limit data availability. The EU's strategy seeks to reduce reliance on foreign technology and ensure technological sovereignty, with a focus on green energy and sustainable practices. However, despite these ambitious efforts, challenges remain as the EU currently lags in AI model development compared to its competitors. The Commission aims to build 13 AI factories and address the technological gap through significant investments in infrastructure and innovation.