EU to fund $11.5 bn in 7 AI gigafactories to rival with US & China

The European Commission said ‌on Thursday that European Union will fund seven AI gigafactories across the bloc with €10 billion ($11.5 billion). Aiming to bridge the technology gap with US and China, the European Commission is seeking an additional €20 billion in private investment. These facilities will feature advanced processors and data centres to expand European computing infrastructure.