The President of the European Commission, von der Leyen, stated that they aim to inject 200 billion euros into the field of artificial intelligence in Europe. Speaking at the Artificial Intelligence Action Summit in Paris, the President of the European Union (EU) Commission, Ursula von der Leyen, emphasized their goal of making Europe one of the leading continents in the field of artificial intelligence. Von der Leyen highlighted that some of the world’s fastest publicly available supercomputers are based in Europe, which will be made accessible for companies and researchers to use for artificial intelligence projects. Stressing that they will elevate their artificial intelligence factories to artificial intelligence giga factories, von der Leyen mentioned that these facilities could train models with vast amounts of data and processing infrastructure. Indicating the significant need for funding in artificial intelligence in both the public and private sectors in Europe, von der Leyen welcomed the 150 billion euros commitment from the private sector in artificial intelligence ventures. Von der Leyen drew attention to the EU’s “InvestAI” initiative, which will allocate an additional 50 billion euros to artificial intelligence and expressed their aim to mobilize a total of 200 billion euros for artificial intelligence investments in Europe. The statement by the EU Commission also mentioned the establishment of a new European fund of 20 billion euros for artificial intelligence giga factories. The EU is ramping up investments in artificial intelligence in an attempt to catch up with competitors like the US and China.