French President Emmanuel Macron has announced a massive investment of 109 billion euros ($112.6 billion) in private AI projects, equivalent to the US’s $500 billion Stargate initiative. The funding will come from various sources, including French companies, UAE investments, and American and Canadian funds.
Macron made the announcement ahead of France’s AI Action Summit, where world leaders and tech bosses are gathering in Paris. The summit aims to discuss the global AI landscape and its implications for businesses and governments.
The investment plan includes commitments from Iliad (3 billion euros) and Mistral (billions), among others. British AI startup Synthesia CEO Victor Riparbelli hailed Macron’s move as a positive step, but emphasized that more needs to be done to ensure Europe competes with tech heavyweights like the US and China.
The summit will also feature world leaders such as EU President Ursula von der Leyen, German Chancellor Olaf Scholz, and Canadian Prime Minister Justin Trudeau. The event is seen as a crucial moment in the global AI race, where companies are competing for influence and control of the narrative.
Meanwhile, Chinese firm DeepSeek’s breakthrough open-source AI model R1 has sparked debates in the industry about huge capital expenditures on computing infrastructure. However, experts have questioned some of DeepSeek’s claims, citing concerns over costs and scientific advancements.
Source: https://www.cnbc.com/2025/02/10/frances-answer-to-stargate-macron-announces-ai-investment.html