Hello community,
We're entering the GenAI investment times quickly. Here's an article from FT today on how investments into AI.
French President Emmanuel Macron has announced €109bn worth of investments in artificial intelligence in France over the coming years, as Europe seeks a greater foothold in the fast-growing industry dominated by the US and China. Macron touted the new funding ahead of the AI Action Summit in Paris which starts on Monday, featuring discussions between world leaders and AI executives such as OpenAI's Sam Altman. It comes after US President Donald Trump last month hailed a $500bn AI infrastructure project known as Stargate, to be built in America and led by OpenAI and SoftBank.
On Monday, venture capital firm General Catalyst told the Financial Times it is leading a wider investment group that plans to spend €150bn over the next five years to deploy AI within companies, invest in European AI start-ups and build up critical infrastructure in the region. The plan, dubbed the EU AI Champions Initiative, is designed to "establish Europe as a global leader in AI". Other private equity and venture investors joining the initiative include KKR, Blackstone, EQT, CVC and DST Global.
I cannot help but think how this impacts emissions and climate change pace
What are your thoughts on this and how do you think it will impact your sector/space in the short and medium term?
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Aya Pariy
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