European Union aims for seven AI gigafactories with €10 billion plan in race with US, China

The European Union will fund seven artificial intelligence gigafactories with €10 billion to compete with the U.S. and China. EU tech chief Henna Virkkunen said, "Access to the raw scale of computing power within AI Gigafactories is a strategic necessity for Europe." The Commission expects to announce successful bidders in 2027.