EU to mobilize €200B for AI investments, Commission President von der Leyen announces

Speaking at the AI Action Summit in Paris, she said with the pledged €150 billion from investors alongside their own investment of €50 billion, the bloc aims to mobilize €200 billion (over $206 billion) for its AI initiative.

“It will be the largest public private partnership in the world for the development of trustworthy AI,” von der Leyen said, also highlighting the rapid advancements they achieved in AI, noting the release of three new powerful models within the past year.

“The AI race is far from being over," she said, referring to claims of US and China being ahead in the technology, adding that Europe needs to adopt a unique approach instead of repeating what others did.

She said Europe has set up in a few months 12 AI factories, investing €10 billion, adding that the EU will also put its supercomputers at the "service of their best startups and scientists" to develop and train AI models.

The EU president reiterated the aim to introduce next-level AI "gigafactories" with large data and computing infrastructure where different industries will be able to collaborate.

“Yes, AI need competition, but AI also needs collaboration,” she said.

Von der leyen also spoke on the importance of the AI Act, which is meant to provide a unified set of safety rules across the European Union, replacing 27 different national regulations. She acknowledged the need to simplify processes and reduce bureaucratic hurdles to facilitate AI development.

“We want AI to be a force for good. We want an AI where everyone collaborates and everyone benefits. This is our path. This is our European path,” she said.

US Vice President JD Vance has criticized EU's "excessive regulation" that could hurt the emerging AI sector.