EU Opens Funding Drive for Seven AI Gigafactories

Key points

• The European Commission launched a tender process seeking more than €30 billion in public and private financing for seven AI gigafactories.
• EU institutions and member states would provide €10 billion, while private investors would contribute the remaining €20 billion.
• EuroHPC JU will collect and distribute the funds, with technology firms, cloud providers, public bodies and investors eligible to apply.
• AMD, Nvidia and Qualcomm have signed letters of intent to supply chips to project participants, the Commission said.
• The EU plans to triple its data-center capacity within five to seven years; it currently operates 19 centers from Spain to Finland.
• Bids are due by November 12, with funding distribution planned for early 2027 and construction expected to start that year.