Spain approves €719 million AI gigafactory investment and hopes for EU funds
Spain approves €719 million AI gigafactory investment and hopes for EU funds
ReutersTue, June 16, 2026 at 12:01 PM UTC
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FILE PHOTO: Spain's Prime Minister Pedro Sanchez shakes hands with Digital Transformation Minister Oscar Lopez Agueda at Spain's National Music Auditorium, in Madrid, Spain, October 31, 2025. REUTERS/Violeta Santos Moura/File Photo
MADRID, June 16 (Reuters) - Spain has allocated €719 million ($834 million) towards building an AI gigafactory to try to reduce its dependence on foreign technology and ensure AI development complies with European regulations, the government said on Tuesday.
• The investment will make the government a shareholder in a company set up to submit Spain's bid for the European Commission's call for proposals for its InvestAI initiative, which could provide further funding.
• Spain will submit a multi-site bid that includes locations in Catalonia and Madrid.
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• The project aims to provide Spain and Europe with advanced computing capacity, and help local companies innovate and boost their competitiveness, the government said.
• Digital Transformation Minister Oscar Lopez said the investment in high-performance computing would ensure Spanish scientists get access to infrastructure that is costly and in short supply. ($1 = 0.8620 euros)
(Reporting by Javi West Larrañaga; Editing by Barbara Lewis)
Source: “AOL Money”
