Public France announced that it plans to invest as much as EUR 10 billion (around 10.3 billion dollars at current exchange rates) in the artificial intelligence ecosystem in France. This commercial appears a few days before the Assembly of State Heads and Global Technologies at the top of the Artificial Intelligence Action in Paris.
BPIFRANCE is a key investor in the technological ecosystem since the last decade, distributing small grants of early start-ups, participating in large funds in exchange for certain own capital, and also invests in VC directly with the “fund fund” Strategy.
“[France] Care already 750 world-famous AI start-ups. It has a solid ecosystem with talent and skills needed to change. Thanks to our investments and constant support, we strengthen the position of France as a global player in this strategic field, “said in a statement the general director of BPIFRANCE Nicolas Dufourcq (pictured above).
Bpifrance is already a shareholder in some of the largest French AI startups corresponding to MistralIN H AND By the pool (Base pool is at least technically based in the USA). He also invested in smaller startups, corresponding to Ekimetrics, Artfakt, Braincube and Chapsvision.
He plans to double with more massive rounds in the coming years. The investment company calls the Foundation models, infrastructure corporations AI and hardware corporations working on AI systems as key areas of interest.
The investment company also expects investment in investment corporations – namely VC corporations that plan to focus on AI investments. In particular, in this strategy, BPIFRANCE is not limited to French investment corporations. He is able to invest in each French and foreign entities. Names bpifrance Fuel AND (*10*)FRST As two VC corporations that collected money from Bpifrance and participated in several investment rounds focused on artificial intelligence.
The investment commitment takes place only a few hours after the United Arab Emirates and France announced that they are planning to invest as much as EUR 50 billion ($ 52 billion) to build a huge AI data center in France with a capability of as much as 1 GW.
In the coming days there will probably be more ads as the AI summit in Paris develops.