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EU will put over $200 billion toward AI development
This week is the AI Action Summit in Paris and the European Union is using it as an opportunity to deep dive into the growing sector. The bloc has announced it's putting €200 billion ($206 billion) toward AI development. This number includes €20 billion ($20.6 billion) for AI gigafactories that process and train large models.
European Commission President Ursula von der Leyen announced the plan, called InvestAI, at the AI Action Summit on Tuesday. She pushed the position that Europe isn't late to the competition against China and the US. "The frontier is constantly moving, leadership is still up for grabs, and behind the frontier is the whole world of AI adoption [...]
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