EU to Invest €10B in AI Gigafactories, Aiming to Close Tech Gap with US

Published: Jul 31, 2026 14:06

Save

[SMM Flash] The EU will provide 10 billion euros ($11.4 billion) in funding to support enterprises in building seven AI gigafactories, to narrow the AI gap with the US. It hopes that public financing will attract an additional 20 billion euros in private investment. Enterprises can now bid for contracts to build the gigafactories, which are planned to be equipped with at least 100,000 cutting-edge AI chips, with performance approximately four times that of the data centers currently operating in the EU.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Hongchen Metal Trading Co., Ltd. Invites You to SMM (16th) Tin Industry Chain Conference 2026

1 hour ago

Weak demand, galvanising operating rate edges down

[Weak demand, galvanising operating rate edges down]: This week, the operating rate of the galvanising industry was 53.39%, down 1.47 percentage points WoW. Raw material side, zinc prices continued to consolidate at highs this week, and enterprises' purchases were still mainly based on rigid demand, with zinc ingot inventories at galvanising enterprises continuing to decline.

1 hour ago

China's National Electricity Load Hits Record High, Surpassing 1.553 Billion kW Amid Economic Growth

[SMM Flash News] National Energy Administration: Driven by sustained improvement in economic operations and hot weather, electricity demand in many regions has continued to grow robustly. The national electricity load has hit a record high three times, peaking at 1.553 billion kW, an increase of about 45 million kW over last year’s peak. Since June, the electricity loads of 15 provincial-level power grids, including Liaoning, Jiangsu, and Hubei, have set new records for a total of 32 times.

1 hour ago