The National Archives (UK)
Henna Virkkunen, Executive Vice-President of the EC for Technological Sovereignty, Nadia Calviño, President of the EIB Group, and Merete Clausen, Deputy Executive Director of the European Investment Fund, signed a memorandum of understanding aimed at promoting the development and deployment of AI gigafactories throughout the European Union, "to position Europe as a leading AI continent," as stated in an EC communiqué.
The document states that the agreement creates a structure for speeding up the funding and creation of AI gigafactories, which will serve as "the foundation of future AI infrastructure in Europe." The EIB Group will offer tailored advisory assistance to consortia that showed interest following the EC's announcement.
Brussels is confident this will aid in "turning ambitious ideas into financially feasible projects" that might be proposed as part of the AI gigafactory bid set for early 2026, which "could lead to possible co-funding from the EIB Group."
The EC reminded that the signed memorandum of understanding aims to support the advancement of the InvestAI initiative, which was revealed by European Commission President Ursula von der Leyen at the Artificial Intelligence Summit in Paris in February 2025.
source: reuters.com
The document states that the agreement creates a structure for speeding up the funding and creation of AI gigafactories, which will serve as "the foundation of future AI infrastructure in Europe." The EIB Group will offer tailored advisory assistance to consortia that showed interest following the EC's announcement.
Brussels is confident this will aid in "turning ambitious ideas into financially feasible projects" that might be proposed as part of the AI gigafactory bid set for early 2026, which "could lead to possible co-funding from the EIB Group."
The EC reminded that the signed memorandum of understanding aims to support the advancement of the InvestAI initiative, which was revealed by European Commission President Ursula von der Leyen at the Artificial Intelligence Summit in Paris in February 2025.
source: reuters.com
