June 5, 2024
Latest Cryptocurrency News

EU to Boost AI Development with Supercomputing Expansion

The Council of the European Union revealed plans to amend the current regulation governing the European High Performing Computer Joint Undertaking (EuroHPC), aiming to broaden supercomputer utilization for artificial intelligence (AI) development.

AI Factories Initiative

On May 24, the EU updated the regulation to include the objective of establishing and operating local AI factories. This initiative seeks to bolster infrastructure for AI supercomputing services, further advancing European AI capabilities.

Empowering AI Startups

The proposed amendment aims to provide larger supercomputing capacity within the EU. This will offer AI startups better resources to innovate and train their models.

Willy Borsus, Vice-President of Wallonia and Minister for Economy, Research and Innovation, emphasized the collaborative effort behind this milestone, highlighting Europe’s strength in unity.

Moreover, under the new regulation, hosting entities can receive substantial financial support from the Union. This will cover up to 50% of the acquisition and operational costs of AI supercomputers. Hosting entities may transfer ownership of these machines five years after acceptance testing.

Furthermore, the AI supercomputers will play a crucial role in developing, testing, evaluating, and validating large-scale AI training models and emerging applications. Thus, driving AI solutions forward within the Union.

Next Steps

The proposed regulation is subject to legal review and, upon approval, will be published in the Official Journal of the European Union. It will take effect twenty days post-publication. Above all, this initiative aligns with the EU’s broader AI strategy, underlining its commitment to fostering safe and ethical AI development across the region.

Image from Flickr

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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