Japanese technology investment group SoftBank announced plans to develop and operate 5 GW of AI data centre capacity in France, in an investment worth €75 billion.

The project forms part of a broader wave of technology-related investments coming to France. President Emmanuel Macron said on Monday that the country was expecting €93 billion in foreign investment commitments at this year's Choose France summit, including projects in artificial intelligence, data centres, semiconductors, critical minerals, transport, steel and healthcare.

It would include an initial €45 billion by 2031 from Softbank for the first phase of its project in northern France. This will deliver 3.1 GW of capacity in the Hauts-de-France region, with sites planned in Dunkirk (Loon-Plage), Bosquel and Bouchain.

Masayoshi Son, Chairman and CEO of SoftBank Group, said: "AI is entering a new era, and the countries that build the infrastructure for this transformation will shape the future of technology, industry and society."

He added that France is "uniquely positioned to become a leading AI infrastructure hub in Europe" thanks to its industrial capabilities, talent base and national ambition.