France will announce private sector investments totaling some 109 billion euros ($112.5 billion) in its artificial intelligence sector during the Paris AI summit which opens on Monday, President Emmanuel Macron said, Report informs via Reuters.
The financing includes plans by Canadian investment firm Brookfield to invest 20 billion euros in AI projects in France and financing from the United Arab Emirates which could hit 50 billion euros in the years ahead, Macron’s office said.
The Elysee Palace said the UAE investment would include financing for a 1 gigawatt data center. The La Tribune de Dimanche newspaper reported that the bulk of Brookfield’s investment would go towards a data center.
AI requires huge amounts of energy to power massive data centers, with Europe seen struggling to meet future demand.
