 "President Macron reveals private sector investment of 109 billion euros at Paris AI Summit")
France will announce private sector investments of over 109 billion euros ($112.5 billion) in its artificial intelligence industry at the Paris AI summit, which begins on Monday, according to President Emmanuel Macron.
The money includes intentions by Canadian investment giant Brookfield to spend 20 billion euros in AI projects in France, as well as financing from the United Arab Emirates that might total 50 billion euros in the coming years, according to Macron’s administration.
The Elysee Palace stated that the UAE investment will include finance for a 1 gigawatt data facility. According to the La Tribune de Dimanche newspaper, the majority of Brookfield’s investment will go towards a data centre.
AI takes enormous amounts of energy to run big data centres, and Europe is expected to struggle to fulfil future demand.
Last month, U.S. President Donald Trump announced that OpenAI, SoftBank Group and Oracle would invest $500 billion in AI infrastructure over the next four years to help the United States stay ahead of China and other rivals in the global AI race.
($1 = 0.9688 euros)
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