SynopsisThe European Union will fund seven artificial intelligence gigafactories across the bloc. This initiative aims to close the technology gap with the United States and China. The Commission plans to attract at least twenty billion euros in private investments. These facilities will combine advanced AI processors, software, and cloud technology. Successful bidders will be announced in early 2027 for operational facilities.The European Union ​will fund seven ​artificial intelligence gigafactories across the bloc with €10 ​billion ($11.5 billion), the European Commission said on Thursday, as the EU steps up efforts to close the technology gap ‌with the ⁠U.S. ⁠and China.The Commission said it aims to attract at ​least €20 billion in private investments for the projects. The total ​was increased from five planned gigafactories to seven following strong interest from EU countries.The facilities will combine ​advanced AI processors, software, cloud ⁠technology, high-speed ‌connectivity and data centres. They will ​come ​on top of the existing 19 ⁠AI factories in various EU countries."Access to the raw scale of computing power within AI Gigafactories is a strategic necessity for Europe as AI development accelerates," EU tech chief Henna Virkkunen said in a statement.Consortia or special purpose vehicles made up of technology providers, cloud ‌service providers, public entities and investors can apply to take part in the gigafactories.The ​tender ​process will close ⁠on November 12. The Commission expects to announce successful bidders in early 2027, with the facilities becoming operational ​within 18 months of contract signing.AMD, Nvidia and Qualcomm have signed letters of intent with the Commission to provide chips to groups involved in the gigafactory projects.($1 = 0.8715 euros) ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now