Spain thinks big: State-backed AI gigafactory targets €5 billion investment
Spain is the only European country bidding for an EU artificial intelligence gigafactory through a company almost half-owned by the […]
Spain is positioning itself at the forefront of artificial intelligence infrastructure by seeking to establish a state-backed AI gigafactory with a €5 billion investment. The Spanish Society for Technological Transformation (SETT), which owns 47.99% of the project company, leads the initiative alongside the Catalan Government's 1% stake.
Telefonica, ACS, Banco Santander, and Multiverse Computing each hold 15.67%, 15.67%, 4%, and 4% of the company, respectively. This unique ownership structure distinguishes Spain's proposal from those of other European countries, which tend to involve fewer state investments. If selected, the project would require €720 million from Spain and €300 million from the EuroHPC supercomputing organization.
The 77 expressions of interest received by Brussels as part of the European push for AI gigafactories indicate intense competition, with the EU expected to announce final decisions in early 2027. This ambitious Spanish undertaking has the potential to significantly shape the future of artificial intelligence in Europe.
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