EU and European Investment Bank join forces to finance AI ‘gigafactories’ across Europe

Summary

The European Investment Bank Group and the European Commission signed a Memorandum of Understanding to support the development of up to five large AI ‘gigafactories’—massive compute and data hubs each housing around 100,000 advanced AI chips. The initiative, part of the EU’s InvestAI programme, aims to bolster Europe’s technological sovereignty by providing shared, high‑end infrastructure for training next‑generation large AI models and supporting startups, researchers and industry.