Over 60 European companies, spanning technology startups and major industry players, have launched the ‘EU AI Champions Initiative,’ aiming to accelerate AI development and adoption across the continent. The initiative was formally introduced at the AI Action Summit in Paris, hosted by French President Emmanuel Macron, with discussions involving European Commission (EC) President Ursula von der Leyen and heads of state from 17 European nations.
The EU AI Champions Initiative focuses on enhancing Europe’s AI ecosystem through coordinated efforts across industry, technology, policy, and capital. Companies involved include Airbus, ASML, Axa, BNP Paribas, Deutsche Bank, Orange Group, Siemens, and Volkswagen Group, as well as startups such as Black Forest Labs, Cradle, and Mistral AI. This collaboration seeks to position Europe as a global AI leader by mobilising talent, increasing AI adoption in traditional industries, and fostering economic resilience.
€150bn investment to drive AI growth across key sectors
Key to the initiative is a €150bn investment commitment from over 20 international investors, including Balderton, Blackstone, CVC, EQT, General Catalyst, KKR, and Warburg Pincus. These funds will be directed towards AI-related projects over the next five years, supporting technology development, infrastructure, and AI applications in sectors such as healthcare, energy, defence, and manufacturing.
The initiative’s unveiling coincides with the release of the report “An Ambitious Agenda for European AI”, authored by General Catalyst. The report outlines strategic recommendations for AI leadership in Europe, emphasising the potential of generative AI to increase productivity by up to 3% annually by 2030. It highlights examples of AI integration, including Novo Nordisk’s collaboration with Cradle to streamline pharmaceutical research and development (R&D) processes and SAP’s partnership with Mistral AI to enhance enterprise software efficiency.
The report also identifies key areas where Europe can strengthen its AI capabilities. These include regulatory simplification, secure data-sharing frameworks, accelerated AI investments, and the development of AI infrastructure through public-private partnerships. Additionally, it recommends an EU-wide initiative to improve public understanding of AI and support skills development across the workforce.
“Europe has all the essentials for a resilient and competitive AI infrastructure: talent, capital, and a strong industrial backbone,” said General Catalyst’s managing director Jeannette zu Fürstenberg. “With the commitment of over 60 leading European companies, we must harness these resources to unlock a functional flywheel between technology, capital, and policy.”
Following the summit, participating companies will engage in strategic discussions with European policymakers to define action plans aimed at accelerating AI adoption and fostering an ecosystem that supports sustained AI-driven growth across the region.
At the summit, President Macron announced new measures aimed at reducing regulatory hurdles to foster AI development across the EU, with a specific focus on enhancing France’s role within the sector. Drawing a parallel to the expedited reconstruction of Notre Dame Cathedral following its 2019 fire, Macron said that similar regulatory flexibility would be applied to data centres, market authorisations, and AI projects.
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