European tech leaders unite for 150bn euro AI investment
More than 60 leading European companies have launched the EU AI Champions Initiative, a project that aims to position Europe as a global AI leader. Backed by over 20 international investors, the initiative has secured 150 billion euros in funding over five years to accelerate AI innovation.
The initiative, announced at the AI Action Summit in Paris, brings together major corporations, startups and investors - including Airbus, ASML, Deutsche Bank, Mistral AI, Spotify and Siemens. The goal is to drive AI adoption across key industries such as manufacturing, energy, healthcare and defence.
Industry leaders say that Europe has the talent and capital but must act swiftly to secure its position in the global AI race. The EU AI Champions Initiative calls for streamlined regulations, improved data-sharing frameworks, investment incentives, infrastructure development and public trust campaigns to create a competitive AI ecosystem.
Competitiveness and reform
Following the initiative’s announcement, talks were held with CEOs and politicians, including French president Emmanuel Macron, who is hosting the AI summit, European Commission president Ursula von der Leyen and the leaders from 17 EU nations, including Belgium.
More discussions, particularly focused on regulatory reforms to ensure AI growth while maintaining competitiveness, are expected to take place on Tuesday.
An attendee at the Artificial Intelligence Action Summit in Paris, 10 February 2025 © PHOTO JOEL SAGET / AFP
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