The European Union on Tuesday announced a sweeping €200 billion ($206 billion) initiative, dubbed InvestAI, aimed at accelerating investment in artificial intelligence (AI) and positioning Europe as a global leader in the development of advanced AI technologies.
The initiative includes a new €20 billion European fund to support the creation of AI “gigafactories,” specialized facilities equipped to train highly complex AI models.
The funding is part of a broader EU strategy to promote open and collaborative AI development.
The €200 billion sum combines a previously announced €150 billion commitment from more than 20 international investors with an additional €50 billion pledged by the European Commission.
The InvestAI fund will finance the construction of four AI gigafactories across the bloc, which will focus on training cutting-edge AI models capable of driving breakthroughs in fields such as medicine and science.
These gigafactories will be equipped with approximately 100,000 “last-generation AI chips,” quadrupling the computing power of current AI facilities.
European Commission President Ursula von der Leyen described the initiative as a “unique public-private partnership, akin to a CERN for AI,” referencing the renowned European nuclear research organization.
She emphasized that the project would enable scientists and companies of all sizes to develop advanced AI models, ensuring Europe becomes a global hub for AI innovation.
The InvestAI initiative will operate as a layered fund with varying risk and return profiles, with the EU budget mitigating investment risks for private partners. Initial funding will be drawn from existing EU programs with digital components, including the Digital Europe Programme, Horizon Europe, and InvestEU.
The announcement builds on the EU’s earlier efforts to support AI development. In December 2024, the bloc unveiled its first seven AI factories, with plans to reveal five more in the near future. The existing AI factories, supported by €10 billion in co-financing from the EU and member states, represent the world’s largest public investment in AI infrastructure.
In addition to the gigafactories, the European Commission plans to establish a European AI Research Council to consolidate resources and explore the potential of data in advancing AI and other emerging technologies.
Later this year, the EU will also launch the “Apply AI” initiative, aimed at accelerating the adoption of AI technologies across key industrial sectors.
The InvestAI initiative underscores the EU’s commitment to fostering innovation and maintaining technological sovereignty in an increasingly competitive global landscape.