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The European Union is planning a major expansion of its AI infrastructure. The European Investment Bank (EIB) and the European Commission want to build up to five AI gigafactories across Europe to boost compute capacity for advanced AI models and reduce the region's dependence on foreign technology.

The Commission plans to fund the effort with 20 billion euros through its InvestAI program, and the EIB is considering additional loans. Each site will include about 100,000 high-performance AI chips, described as "the most advanced" available and roughly four times more than existing facilities.

"AI gigafactories will train the most complex, very large AI models, which require extensive computing infrastructure for breakthroughs in domains such as medicine, cleantech and space."

The project falls under the EIB's TechEU program, which aims to mobilize 250 billion euros in investment by 2027.

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Nvidia and OpenAI have not yet signed their planned 100 billion dollar deal. Nvidia CFO Colette Kress confirmed this on Tuesday during a conference in Arizona. Even though both companies announced plans in September to provide 10 gigawatts of Nvidia systems for OpenAI, the arrangement is still only a memorandum of understanding. Kress said the two sides are still working toward a final agreement.

The holdup raises new questions about the circular business structures that have become common in the tech industry, where large companies invest in startups that then spend the money on the investor's own products. Any future revenue from the OpenAI deal is not included in Nvidia's current 500 billion dollar forecast. A separate 10 billion dollar investment in competitor Anthropic also remains pending.

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