European Commission - Directorate General for Communications Networks, Content and Technology

12/04/2025 | Press release | Distributed by Public on 12/04/2025 06:02

Commission and European Investment Bank Group team up to support AI Gigafactories

The European Commission and the European Investment Bank Group (EIB Group) joined forces today to make Europe a leading AI Continent.

GettyImages © Andrey Suslov

Executive Vice-President for Tech Sovereignty, Security and Democracy Henna Virkkunen, the President of the European Investment Bank Group Nadia Calvino and the Deputy Chief Executive of the European Investment Fund, Merete Clausen signed a memorandum of understanding to support the development and deployment of AI Gigafactories across the European Union.

The agreement establishes a framework to accelerate the financing and development of the AI Gigafactories that will anchor Europe's future AI infrastructure. The EIB Group will provide tailored advisory support to consortia that responded to the Commission's informal Call for Expression of Interest. This guidance will help turn ambitious concepts into bankable projects that can be submitted in the formal call for the establishment of AI Gigafactories planned for early 2026, paving the way for potential EIB co-financing.

Today's memorandum of understanding will advance the InvestAI initiative, announced by President Ursula von der Leyen at the AI Action Summit in Paris in February 2025. InvestAI mobilises a €20 billion facility to support up to five AI Gigafactories - large-scale computing facilities dedicated to the development and training of next-generation AI models.

Beyond unlocking investment, this partnership aims to translate Europe's AI vision into concrete, large-scale facilities that can power innovation, strengthen technological sovereignty, and position the EU as a global leader in Artificial Intelligence.

More information can be found in the memorandum of understanding between the Commission and the EIB.

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