Former European Commission Executive Vice-President Margrethe Vestager co-authored a report proposing 100 billion euros in public investment paired with a target of 1.5 trillion euros in private capital to triple Europe’s share of global AI capacity from 5% to 15% by 2030. Europe currently controls only 5% of the world’s AI data center capacity, compared to 75% for the United States and 15% for China. In 2024, private AI investment reached 109 billion dollars in the United States versus just 19.42 billion dollars in Europe. The European Commission also launched a tender for seven AI gigafactories, each required to house at least 100,000 advanced AI chips, with 10 billion euros in public funding designed to attract more than 20 billion euros in additional private investment.
Source: Read the original article
