Bpifrance has announced its ambitious plan to invest up to €10 billion in France’s artificial intelligence ecosystem by 2029. The announcement comes just days ahead of the Artificial Intelligence Action Summit in Paris, emphasizing the country’s commitment to becoming a dominant force in the AI sector. France, already home to 750 world-renowned AI startups, is gearing up to significantly increase its investments in AI through more substantial funding rounds in the coming years.
Bpifrance's strategy involves investing not only in French entities but also in foreign companies. This approach is part of a broader plan to enhance France's position as a global player in AI. Bpifrance has already established partnerships with venture capital firms such as Elaia and Frst, both of which have raised funds from Bpifrance and participated in multiple AI-centric investment rounds. Moreover, the bank's willingness to engage with international investment firms underscores its commitment to fostering a robust AI ecosystem.
Another noteworthy development is the collaboration between the United Arab Emirates and France, which plans to invest up to €50 billion in a massive AI data center in France. This facility, expected to have a capacity of up to 1 GW, will further bolster France's infrastructure and capabilities in AI research and development.
Bpifrance has been a pivotal player in the tech ecosystem for over a decade. It has strategically invested in venture capital firms through its "fund of funds" strategy, making it a shareholder in some of France's largest AI startups, including Mistral, H, and Poolside. Interestingly, Poolside, although technically based in France, is a US-based company, reflecting Bpifrance's inclusive investment approach.
Bpifrance CEO Nicolas Dufourcq highlighted the significance of these investments, stating that they will cement France's position as a global leader in AI.
“France already boasts 750 world-renowned AI startups. It has a solid ecosystem with the talent and skills needed to make a difference. Thanks to our investments and ongoing support, we are strengthening France’s position as a global player in this strategic field,” – Nicolas Dufourcq, Bpifrance CEO.
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