Portugal plans to establish a large-scale European artificial intelligence facility
Lisbon, August 1 (Hibya) – The Portuguese government has announced a project that foresees an initial public investment of up to €200 million to establish one of Europe's major artificial intelligence centers.
Portugal has launched efforts to establish a large-scale European artificial intelligence facility.
In a statement, the Government of the Portuguese Republic said it aims to build a European-scale AI "gigafactory" in the country and plans to invest up to €200 million in public funds during the initial phase of the project.
The statement noted that the project aims to create a major European AI hub in Portugal, strengthen technological sovereignty, and attract investment and highly qualified talent to the country.
It also said that the project, which is planned to be carried out in coordination with Spain, will be developed as an Iberian Peninsula-based initiative under the leadership of the Portuguese Development Bank (Banco Português de Fomento).
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