The European Union is making a bold move to secure its technological future with a massive investment initiative focused on artificial intelligence and semiconductors.
On Saturday, European Investment Bank President Nadia Calviño revealed details of the new 'Tech EU' blueprint, which aims to raise €70 billion ($78 billion) by 2027 to enhance European capabilities in AI and semiconductor technologies. The announcement, made to Italian daily Corriere della Sera, positions this initiative as a cornerstone of Europe's strategy to boost competitiveness against global tech powers.
"The 'Tech EU' project will also focus on health technologies and critical commodities," Calviño stated, highlighting the initiative's broad scope. The ambitious plan targets a long-term investment total of €250 billion, though specific implementation details remain forthcoming.
This initiative aligns with the EU's recently launched AI Continent Action Plan, unveiled in April 2025, which aims to transform Europe into a global AI leader. The Action Plan includes establishing at least 13 AI factories across Europe, leveraging the continent's supercomputing network, and mobilizing €200 billion for AI investment through the InvestAI initiative.
The EIB's focus on technological sovereignty comes amid growing concerns about Europe's position in the global tech race. The EU has identified AI as essential for economic prosperity, security, and safeguarding democracy in an increasingly technology-driven geopolitical landscape.
"The EU also needs market integration, investment and simplification to strengthen its competitiveness," Calviño emphasized, pointing to the comprehensive approach required beyond mere financial commitment.
The initiative represents Europe's strategic response to recent developments in global AI and semiconductor markets, where the United States and China have made significant advances. By concentrating resources on these critical technologies, the EU aims to ensure European companies and innovations remain competitive on the world stage while maintaining alignment with European values and regulatory frameworks.