The AI ​​race

EU invests 10 billion euros in AI data centers

The European Commission has invited companies to apply for support of up to 10 billion euros to build up to seven large AI data centers in Europe. Bloomberg reports.

In addition to the billion-euro support from the EU and member states, around 20 billion euros in private investment is expected. So far, however, only 2 billion euros in public funding is available, the remaining funds require approval in the EU's next long-term budget.

Three larger facilities can receive up to 1 billion euros each in support, while four slightly smaller data centers can receive up to 500 million euros each. Construction is planned to start in the first quarter of 2027.

The EU states that parts of the procurements can be reserved for European companies, while the Union has signed letters of intent with AMD, Nvidia and Qualcomm.

Samsung's chip profits are soaring - they have increased 250-fold

Samsung's operating profit surged by more than 1,800 percent in the second quarter. In the red-hot chip business, profit growth was a full 250 times higher than in the same quarter last year, notes Bloomberg. Revenues increased by 130 percent at the same time.

The figures were largely as the market had expected and the stock was traded down almost 1 percent on the Seoul Stock Exchange.

Samsung sees no decrease in demand for memory chips for the massive AI expansion. However, Jung In Yun, founder of asset manager Fibonacci, warns of a coming setback when demand declines.

- In this market, record profits are no longer enough, he tells Bloomberg.