Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Europe's AI gigafactory push attracts 76 bids, EU tech chief says

    Published by Global Banking and Finance Review

    Posted on June 30, 2025

    Featured image for article about Headlines

    By Foo Yun Chee

    BRUSSELS (Reuters) -Seventy-six companies have bid to develop Europe's artificial intelligence gigafactories, the EU's tech chief said on Monday, hailing a bigger than expected response to the bloc's push to catch up with the U.S. and China in this key technology.

    The European Commission made the announcement four months after it allocated 20 billion euros ($23 billion) in EU funding for the construction of four AI gigafactories across the bloc.

    Such facilities, in essence large-scale AI computing and data storage hubs, will be equipped with about 100,000 state-of-the-art AI chips.

    "We got 76 submissions proposing to set up AI gigafactories in 16 member states and across 60 different sites," EU tech chief Henna Virkkunen told a press conference.

    "And this exceeds far beyond our expectations and this showcases Europe's growing momentum and enthusiasm for innovating in AI in Europe," she said, declining to name the companies because of business confidentiality information.

    The EU executive said applicants included EU and non-EU companies, among them tech giants, data centre operators, telecoms providers, power suppliers and financial investors.

    "Together they have now indicated plans to acquire at least 3 million latest generation of AI processors (GPUs) in total," Virkkunen said. The Commission will launch an official call for setting up the AI gigafactories at the end of the year.

    ($1 = 0.8537 euros)

    (Reporting by Foo Yun Chee, Editing by William Maclean)

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe