EU Invests $11.4 Billion in AI Gigafactories to Compete with US and China
The European Union has announced a $11.4 billion investment to build seven AI gigafactories, aiming to close the gap with the U.S. and China in AI development. These gigafactories are expected to significantly enhance the EU's computing power, currently provided by 19 AI data centers across the continent. The initiative is part of the EU's strategy to achieve tech sovereignty and reduce reliance on foreign technology providers. The gigafactories will house at least 100,000 advanced AI chips, making them four times more powerful than existing EU data centers. The EU hopes to attract an additional $22.8 billion in private investment to support this initiative. 
