EU aims for seven AI gigafactories with €10 billion plan in race with US, China

The EU will put up €10 billion to build seven AI "gigafactories" across the bloc to help Europe catch up with the U.S. and China.
The project aims to attract at least €20 billion more from private investors and has letters of intent from chip suppliers including AMD, Nvidia and Qualcomm.
The tender closes Nov. 12, winners are expected in early 2027, and the facilities should be operational about 18 months after contracts are signed.