French President Emmanuel Macron has announced that private sector investments in artificial intelligence (AI) will reach €109 billion at the AI summit taking place in Paris. Various international organizations are set to make significant investment commitments during the conference, which commenced on Monday, according to a report by Reuters.
The Élysée Palace confirmed that Canadian investment firm Brookfield will allocate €20 billion to AI projects in France. Additionally, the United Arab Emirates is expected to invest up to €50 billion in the French AI sector over the coming years.
A substantial portion of the UAE’s investment will be directed toward constructing a data center with a capacity of 1 gigawatt. French newspaper La Tribune Dimanche reported that a large share of Brookfield’s investment will also be dedicated to building a data center.
AI technology requires massive amounts of energy, which is essential for operating large-scale data centers. However, Europe may face significant challenges in meeting future energy demands to sustain AI infrastructure.
Meanwhile, last month, former U.S. President Donald Trump announced that OpenAI, SoftBank Group, and Oracle plan to invest $500 billion in AI infrastructure over the next four years. The United States aims to maintain its competitive edge in the global AI race, particularly against China and other rivals, through this substantial investment.
