(ANSA) – ROME, FEB 11 – An initiative launched by the President of the European Commission, Ursula von der Leyen, at the AI ;;Action Summit in Paris to mobilize 200 billion euros of investments in the artificial intelligence sector is called InvestAI.
The initiative includes a new European fund of €20 billion to create AI gigafactories, an infrastructure needed to enable the open and collaborative development of the most complex AI models and to make Europe an AI continent, as the Commission intends.
“This unique public-private partnership, similar to a CERN for AI, will enable all our scientists and companies, not only the largest, to develop the most advanced very large-scale models needed to make Europe an AI continent,” said von der Leyen, who highlighted the “unprecedented” mobilization of capital for the creation of European AI gigafactories.
The InvestAI fund, the Commission explains in a note, will finance four future AI gigafactories across the EU specialized in training the most complex and large-scale AI models.
These next-generation models require large computing infrastructure to achieve breakthroughs in specific areas such as medicine or science.
The gigafactories will have around 100,000 next-generation AI chips, four times more than the AI ;;factories currently being built.
The gigafactories funded by InvestAI will be the world’s largest public-private partnership for the development of trustworthy AI, the Berlaymont Palace highlights, and will serve the European model of open and cooperative innovation, with a focus on complex and mission-critical industrial applications.
The aim is for every company, not just the largest, to have access to large-scale computing power to build the future.
InvestAI will comprise a tiered fund, with shares with different risk and return profiles.
The Commission’s initial funding for InvestAI will come from existing EU funding programmes with a digital component, such as Digital Europe and Horizon Europe, and from InvestEU. Member States can also contribute by programming funds from their cohesion envelopes.
Financing AI gigafactories with a mix of grants and equity will be one of the pilot cases for strategic technologies announced in the Competitiveness Compass.
This follows the AI ;;Factories initiative, seven of which were already announced in December, with five to be announced soon.
The current support for AI Factories, amounting to €10 billion and co-financed by the EU and Member States, is already the largest public investment in AI in the world and will unlock more than ten times the private investment.
The support already provides start-ups and industry with massive access to supercomputers. (ANSA).
Read article…
The initiative includes a new European fund of €20 billion to create AI gigafactories, an infrastructure needed to enable the open and collaborative development of the most complex AI models and to make Europe an AI continent, as the Commission intends.
“This unique public-private partnership, similar to a CERN for AI, will enable all our scientists and companies, not only the largest, to develop the most advanced very large-scale models needed to make Europe an AI continent,” said von der Leyen, who highlighted the “unprecedented” mobilization of capital for the creation of European AI gigafactories.
The InvestAI fund, the Commission explains in a note, will finance four future AI gigafactories across the EU specialized in training the most complex and large-scale AI models.
These next-generation models require large computing infrastructure to achieve breakthroughs in specific areas such as medicine or science.
The gigafactories will have around 100,000 next-generation AI chips, four times more than the AI ;;factories currently being built.
The gigafactories funded by InvestAI will be the world’s largest public-private partnership for the development of trustworthy AI, the Berlaymont Palace highlights, and will serve the European model of open and cooperative innovation, with a focus on complex and mission-critical industrial applications.
The aim is for every company, not just the largest, to have access to large-scale computing power to build the future.
InvestAI will comprise a tiered fund, with shares with different risk and return profiles.
The Commission’s initial funding for InvestAI will come from existing EU funding programmes with a digital component, such as Digital Europe and Horizon Europe, and from InvestEU. Member States can also contribute by programming funds from their cohesion envelopes.
Financing AI gigafactories with a mix of grants and equity will be one of the pilot cases for strategic technologies announced in the Competitiveness Compass.
This follows the AI ;;Factories initiative, seven of which were already announced in December, with five to be announced soon.
The current support for AI Factories, amounting to €10 billion and co-financed by the EU and Member States, is already the largest public investment in AI in the world and will unlock more than ten times the private investment.
The support already provides start-ups and industry with massive access to supercomputers. (ANSA).
Read article…
