MADRID — The Spanish government announced Tuesday it has set aside €719 million, equivalent to approximately $834 million, to finance the construction of a major artificial intelligence gigafactory. Officials say the project is intended to cut down on the country’s dependence on overseas technology while keeping AI development in line with European Union standards.
The funding arrangement will give the government an ownership stake in a company formed specifically to enter Spain’s bid in the European Commission’s InvestAI initiative — a program that could unlock additional financial support for the project.
Spain plans to submit a proposal covering multiple locations, including sites in both Catalonia and Madrid.
According to government officials, the gigafactory is expected to give Spain and the broader European community access to advanced computing power, while also helping domestic businesses develop new technologies and sharpen their competitive edge.
Digital Transformation Minister Oscar Lopez emphasized that investing in high-performance computing infrastructure would open doors for Spanish scientists who currently struggle to access such resources due to high costs and limited availability.
