European Commission: Europe needs $550 billion to strengthen its technological sovereignty and compete with global powers

Brussels, Nov 13 (KUNA) – European Commission President Ursula von der Leyen said on Friday that Europe needs investments of at least 500 billion euros (about $550 billion) to bolster its technological sovereignty and compete with global powers in artificial intelligence.

Speaking at a press conference at the end of an informal meeting of European Union leaders in Dublin, von der Leyen announced plans to create seven large-scale computing facilities dedicated to AI, with around 30 billion euros (about $33 billion) being mobilized to fund them. The initiative aims to provide advanced computing capabilities to startups and researchers, enabling them to develop more sophisticated AI models.

She stressed the need for substantial investments in the semiconductor industry, computing capacity, and the development of advanced AI models, noting that Europe must attract more private investment and complete the Savings and Investment Union to secure the necessary funding. She added that the upcoming long-term EU budget should reflect these ambitions, explaining that EU leaders had agreed on proposing new ideas to finance technological sovereignty, and she announced her intention to present an ambitious proposal on the matter.

For his part, European Council President Antonio Costa said Europe must translate its strengths in scientific research, skills, and startups into real competitive advantages by developing its own AI models, securing supply chains, and ensuring access to clean and affordable energy. He emphasized that the upcoming long-term EU budget, particularly the new European Competitiveness Fund, would play a crucial role in mobilizing the investments needed to enhance the EU’s ability to compete with global powers.

In this context, von der Leyen clarified that the Commission is focusing on five sectors where AI can deliver the greatest economic value and impact, with the first part of this initiative to be released within two weeks.

Costa stressed the importance of establishing effective rules for AI governance and enhancing international cooperation, noting that the EU would work to contribute to shaping global standards through the G7, G20, and the United Nations.

The European Council is scheduled to revisit the file at its meeting in Alden Biesen, Belgium, in February 2027. (End) A.R.N. / M.A.H.A.