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France Joins the AI Boom with €109 Billion Investment

It’s France’s turn to tap into the AI boom, the country’s private investments totaling €109 billion ($112.5 billion) announced by President Emmanuel Macron on Sunday. The announcement comes ahead of Paris hosting the AI Action Summit on Monday and Tuesday.

A Major Leap Forward for France’s AI Ecosystem

Macron stated during a TV interview on France 2 and India’s First Post that "Europe is going to speed up, France is going to speed up." He elaborated that the investment is "exactly the equivalent for France of what the United States announced with Stargate — $500 billion — it’s the same ratio," when taking into account France’s significantly smaller population.

Pledging Nuclear Power for AI Computing

Today, France will also reportedly pledge a gigawatt of nuclear power to create an AI computing project, the AI center. The project’s lead, FluidStack, aims to start work in the third quarter of 2024. By the end of 2026, the goal is to have 250 megawatts of power linked to AI-computing chips. Most of these chips are made by Nvidia, which FluidStack claims will send chips over when they need them. It also states that there’s potential to expand to a 10 gigawatt facility by 2030.

Earlier Commitment from Macron and UAE Leader

The news follows Macron and United Arab Emirates leader Mohamed bin Zayed Al-Nahyan’s February 6 announcement to put between €30 million and €50 million ($31 million to $51.6 million) towards a one-gigawatt AI center.

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