EU lays out $11.4B for 7 AI gigafactories as it aims to catch up with US and China

EU lays out $11.4 billion for 7 AI gigafactories as it aims to catch up with US and China

EU commits €10 billion to build 7 AI gigafactories with 100K+ chips (4x current capacity) to reduce dependence on US-China hyperscalers. For Italian tech leaders, this enables GDPR-compliant computing access locally, though Europe's 2-3x higher electricity costs versus rivals still constrain competitive advantage.