The European Investment Bank (EIB) is spearheading a major investment initiative to strengthen Europe’s position in artificial intelligence (AI) and semiconductor technologies. The new project, dubbed ‘Tech EU’, aims to mobilize up to €70 billion ($78 billion) in funding by 2027 to enhance the European Union’s competitiveness against global tech giants like China and the United States.
EIB’s ‘Tech EU’ Initiative Targets AI and Semiconductor Growth
Nadia Calvino, President of the EIB, revealed in an interview with Italian newspaper Corriere della Sera that the blueprint seeks to attract a total of €250 billion in long-term investments. While details remain sparse, the initiative will also focus on health technology advancements and securing critical raw materials essential for tech development.
Strengthening EU’s Global Technology Competitiveness
The Tech EU project is a cornerstone of the EU’s broader strategy to boost innovation and technology sector growth through market integration, increased investments, and regulatory simplification. Calvino emphasized the importance of these measures to improve the EU’s global competitiveness in key industries like AI and semiconductors.
Key Highlights:
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European Investment Bank plans to raise €70 billion by 2027 for AI and semiconductor projects
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‘Tech EU’ aims for €250 billion in long-term investments to drive tech innovation
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Initiative supports health technologies and critical commodity sourcing
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Focus on EU market integration and regulatory simplification to boost competitiveness
This ambitious EU AI and semiconductor investment plan reflects the bloc’s commitment to closing the technology gap with the US and China, fostering a resilient and innovative European tech ecosystem.
