French President Emmanuel Macron announced on Sunday that France will commit 109 billion euros ($112.5 billion) to AI investments in the next few years. This program is set to be launched at the opening of the Paris AI summit on Monday.
Brookfield and UAE to Make Huge Investments
The French government’s investment plans also include an agreement from the Canadian investment firm Brookfield, which will invest 20 billion euros in AI projects across France. The United Arab Emirates is expected to make up to 50 billion euros in investments in the next few years.
Macron’s office revealed that the UAE’s investment would finance a 1 gigawatt data center. La Tribune de Dimanche also reported that Brookfield’s significant investment would go into the setting up of a data center.
Energy Requirement for AI
In an effort to draw more power for its massive data centers, the reliance of AI on huge quantities of energy is raising concerns-especially as Europe struggles to increase supply to meet future demand. In a parallel development, the U.S. President Donald Trump last month said that OpenAI, SoftBank Group, and Oracle would spend $500 billion in AI infrastructure over the next four years, in a move to keep America ahead of its global competitors China and others in the AI race.
