Macron signals investments of 109 billion euros – The investments will be in French AI by private sector
France will announce private sector investments totalling some 109 billion euros in its artificial intelligence sector during the Paris AI summit which opens today, President Emmanuel Macron said during an interview.
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.
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.
Macron said there is a “huge regulatory challenge” for artificial intelligence, but it must be done on a global scale.
Macron and Canadian Prime Minister Justin Trudeau reinforced a global partnership in AI, which they forged in 2019, joining the conclusion of a meeting at the French foreign ministry that included leaders from Slovakia, Serbia and the OECD.
