EU says AI race far from over as bloc pledges 50-billion-euro investment

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EU says AI race far from over as bloc pledges 50-billion-euro investment

Ursula von der Leyen (CDU, r), President of the European Commission, stands in the plenary chamber of the European Parliament.

Philipp von Ditfurth | Picture Alliance | Getty Images

European Commission President Ursula von der Leyen on Tuesday said the EU would mobilize a total of 200 billion euros ($206.5 billion) for artificial intelligence investments in Europe, stressing that the race for AI leadership had not yet been won by China or the U.S.

The sum includes previously-announced 150-billion-euro funding from investors and industry, which Von der Leyen announced the bloc will top up by another 50 billion euros.

Speaking at the AI Action Summit in Paris, Von der Leyen said it would be the “largest public-private partnership in the world for the development of trustworthy AI,” focused on industrial and mission-critical applications and powering European “gigafactories.”

This is a breaking news story and will be updated shortly.

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