France Secures €109 Billion in AI Investments, Macron Reveals

Image Credit: Bloomberg

France is set to unveil private sector investments totaling approximately 109 billion euros ($112.5 billion) in its artificial intelligence (AI) sector during the Paris AI summit starting Monday, President Emmanuel Macron announced.  

Among the major investments, Canadian firm Brookfield plans to allocate 20 billion euros to AI projects in France, while the United Arab Emirates is expected to contribute up to 50 billion euros over the coming years, according to the Elysee Palace.  

The UAE’s investment will include funding for a 1-gigawatt data center, while La Tribune de Dimanche reported that a significant portion of Brookfield’s investment will also go toward a data center.  

As AI development relies heavily on energy-intensive data centers, Europe faces challenges in meeting the growing demand for power.  

Meanwhile, last month, U.S. President Donald Trump announced that OpenAI, SoftBank Group, and Oracle would invest $500 billion in AI infrastructure over four years to maintain the U.S.'s competitive edge over China and other global rivals.  

(Exchange rate: $1 = 0.9688 euros)

 

Paraphrasing text from "Yahoo!Finance" all rights reserved by the original author