The European High Performance Computing Joint Undertaking (EuroHPC)  has selected seven proposals to establish and operate the first AI Factories across Europe. This is a major milestone for Europe in building a thriving ecosystem to train advanced AI models and develop AI solutions. The EU is now one step closer to realising President Ursula von der Leyen's commitment to setting up the first AI Factories. The first AI Factories will represent a €1.5 billion investment, combining national and EU funding. Half of...

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At the initiative of the Hungarian presidency, today the Council approved conclusions on the Commission’s White Paper titled ‘How to master EU’s digital infrastructure needs’.  Extensive transformations, driven by rapid technological progress, have been shaping the electronic communications sector, as well as the whole digital landscape in the past decade. The cross-sectoral nature of the digital transition also signifies that its impact extends well beyond the digital realm, touching upon environmental and societal aspects, as well. "Today’s comprehensive set of conclusions provide a clear...

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Contribution by Christine Lagarde, President of the ECB to The Economist A fragmented financial infrastructure means that Europe gets less bang for its euro Europe is not short of ideas, innovators or savings. Europeans save more of their income than Americans, and their share in global patent applications is close to that of the United States. But Europe often struggles to turn ideas into new technologies that can drive growth. One reason is that it is much less able than the...

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The global economy is projected to remain resilient despite significant challenges, according to the OECD’s latest Economic Outlook. The Outlook projects global GDP growth of 3.3% in 2025, up from 3.2% in 2024, and 3.3% in 2026. Inflation in the OECD is expected to ease further, from 5.4% in 2024 to 3.8% in 2025 and 3.0% in 2026, supported by the still restrictive stance of monetary policy in most countries. Headline inflation has already returned to central bank targets in nearly...

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