The European Union (EU) will fund seven artificial intelligence gigafactories across the bloc ​with 10 billion euros ($11.5 billion), the European Commission said ‌on Thursday, as the EU steps up efforts to close the technology gap with the US and China.

The Commission said ​it aims to attract at least €20 billion in ​private investments for the projects. The total ⁠was increased from five planned gigafactories to seven following ​strong interest from EU countries.

The facilities will combine advanced ​AI processors, software, cloud technology, high-speed connectivity and data centers. They will come on top of the existing 19 AI ​factories in various EU countries.

"Access to the raw ​scale of computing power within AI Gigafactories is a strategic necessity ‌for ⁠Europe as AI development accelerates," EU tech chief Henna Virkkunen said in a statement.

Consortia or special purpose vehicles made up of technology providers, cloud service providers, ​public entities and ​investors can ⁠apply to take part in the gigafactories.

The tender process will close on November ​12. The Commission expects to announce successful ​bidders ⁠in early 2027, with the facilities becoming operational within 18 months of contract signing.

AMD, Nvidia and Qualcomm have ⁠signed ​letters of intent with the ​Commission to provide chips to groups involved in the gigafactory projects.