French public investment bank Bpifrance has announced plans to inject €10 billion ($10.3 billion USD) into France’s AI ecosystem by 2029, strengthening the country’s position as a global leader in artificial intelligence.
The announcement comes ahead of the Artificial Intelligence Action Summit in Paris, where world leaders and tech executives will discuss AI’s future.
Scaling AI Startups and Infrastructure
Bpifrance has long played a key role in supporting French tech through:
- Grants for early-stage AI startups
- Equity investments in growth-stage AI companies
- Backing venture capital (VC) firms that focus on AI through a “fund of funds” strategy
The bank has already invested in major French AI startups, including:
- Mistral AI (large language models)
- H (AI-powered automation)
- Poolside (developer AI tools, based in the U.S. but backed by French investors)
With this €10 billion commitment, Bpifrance aims to double down on deep tech investments, focusing on:
Hardware companies building AI chipsistics, enabling a cost-effective and scalable shift from road to rail while supporting decarbonization efforts.”
- Foundation models
- AI infrastructure
- Hardware companies building AI chips
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Backing AI-Focused VC Firms
Bpifrance will also channel funds into venture capital firms specializing in AI, including both French and international funds. It has already backed Elaia and Frst, two VC firms actively investing in AI startups.
France’s Growing AI Momentum
This announcement follows another major AI-related investment:
- France and the UAE recently unveiled a €50 billion ($52 billion) plan to develop a 1 GW AI data center in France, one of the largest of its kind in Europe.
With government support, private capital, and an expanding AI talent pool, France is rapidly solidifying itself as a key player in the global AI race. More AI-related announcements are expected as the AI Action Summit unfolds in Paris.
