09:44 AM EDT, 07/30/2026 (MT Newswires) -- The European Union is set to establish up to seven artificial intelligence gigafactories as part of plans to bolster Europe's AI computing capacity and technological sovereignty. The European Commission on Thursday opened a call for tenders supported by up to 10 billion euros in funding and expects to attract at least 20 billion euros in private investments across the bloc, according to a same-day release. The call for tenders is due to close on Nov. 12. The commission anticipates award decisions by early 2027 and construction of the gigafactories to begin during the same year. The facilities are then expected to become operational within a maximum of 18 months after the signing of contracts.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.