France is planning to become a leader in artificial intelligence (AI).
President Emmanuel Macron announced a massive investment of €109 billion to boost AI projects in the country.
The funding will come from international companies and funds over the next few years.
Macron spoke on France 2 TV about previous plans by UAE funds to spend up to €50 billion on data center campuses in France.
He also shared that Brookfield Asset Management of North America will invest €20 billion to build AI infrastructure over five years.
French companies such as Iliad SA, Orange SA and Thales SA are also joining the effort.
Macron stressed that Europe needs to act quickly to compete with countries such as China and the US.
He also argued that strict regulations on AI and technology will put Europe behind other countries and hurt Europe’s chances in the global AI competition.
