European Union invests 114 billion SEK to close AI gap with US and China

The European Union is launching a major investment of approximately 114 billion SEK (roughly 10 billion EUR) to close the artificial intelligence gap between Europe, the United States, and China. The initiative aims to build massive AI computing power to enable European companies to compete globally.

Currently, Europe accounts for only about five percent of the world's computing power for artificial intelligence, while the United States holds approximately 75 percent and China holds about 15 percent, according to data from Epoch AI. The project involves the construction of seven AI 'gigafactories' across the continent.

The effort is led by Anders Dam Jensen, the head of the European High Performance Computing Joint Undertaking (EuroHPC), who previously managed IT infrastructure at NATO headquarters. Jensen emphasized the necessity of the investment to ensure Europe remains relevant in the global AI race.