Spain's government has approved a €719 million ($834 million) investment to build an AI gigafactory, aiming to reduce dependence on foreign technology and align with EU regulations. The state will become a shareholder in a new company that will bid for further funding from the European Commission's InvestAI initiative. The project seeks to provide advanced computing capacity to boost local innovation and give scientists access to scarce infrastructure.
AI gigafactory investment
- ▪Spain's government has allocated €719 million ($834 million) to build an AI gigafactory
- ▪The investment will make the Spanish government a shareholder in a company created to submit a bid for EU funding
European InvestAI initiative
- ▪The new company will submit Spain's bid for the European Commission's InvestAI initiative, which could provide further funding
- ▪Spain's bid for the InvestAI initiative will be a multi-site proposal that includes locations in Catalonia and Madrid
Computing infrastructure goals
- ▪According to Digital Transformation Minister Oscar Lopez, the investment will give Spanish scientists access to costly and scarce computing infrastructure
- ▪The gigafactory is intended to provide advanced computing capacity to help local companies innovate and boost competitiveness
- ▪The project aims to reduce Spain's dependence on foreign technology and ensure AI development complies with European regulations
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