The European Commission is receiving strong interest for a €20 billion initiative to build AI Gigafactories across Europe, with 76 expressions of interest submitted from 16 member countries. These AI Gigafactories are envisioned as advanced computing and data storage facilities tailored for extensive AI model development. The initiative aims to bolster Europe's position as a leader in artificial intelligence, as it currently lags behind key competitors like the US and China. GPU manufacturers are expected to benefit significantly from the demand for high-performance accelerators in these facilities.
Pork barrel time is upon Europe for Nvidia and AMD as corporations seek part of the €20 billion fund to create AI Gigafactories to boost EU AI capabilities.
The European Commission has received an overwhelming response for expressions of interest in AI Gigafactories, with 76 submissions across 16 EU member states.
AI Gigafactories are defined as state-of-the-art, large-scale hubs for AI computation and data storage, intended for developing expansive AI models.
The investment aims to establish Europe as a global leader in artificial intelligence, an area where it currently trails behind the US and China.
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