Bpifrance will invest $ 10 billion in the French AI ecosystem by 2029

French bank for public investment declared that he plans to invest up to 10 billion euros (about $ 10.3 billion in current exchange rates) in the ecosystem of artificial intelligence in France. This message comes a few days before the heads of state and global technology leaders to gather for The tip of the artificial intelligence in Paris.

Bpifrance has been a key investor in the technological ecosystem in the last decade, giving out small grants to start -ups at an early stage, participating in large funding circles in exchange for some equity, and also invests in VC companies directly with its “fund fund” Strategy.

“(France) now boasts 750 world -renowned startup AI. It has a solid ecosystem with talent and skills needed to change. Thanks to our investments and constant support, we strengthen France’s position as a global player in this strategic area, “BPIFrance CEO Nicolas Dufur said in a statement.

Bpifrance is already a shareholder in some of the largest AI startups in France, such as Mistral., H, and Near the pool (However, the pool is technically based in the US). He has also invested in smaller start -ups, such as facilities, artifact, brain and chapsvision.

He plans to double with more massive circles in the coming years. The Foundation of Investment Companies Foundation, AI infrastructure companies and hardware companies operating on AI chips as key areas of interest forward.

Investment firm also expects to invest in other Investment companies – namely VC companies that plan to focus on AI investments. In particular, this BPIFrance strategy is not limited to French investment companies. It is ready to invest in both French and foreign formations. Bpifrance names Fuel and Frst As two VC companies that raised money from Bpifrance and participated in several investment rounds aimed at AI.

This investment commitment comes just a few hours after the United Arab Emirates and France declared that they plan to invest up to 50 billion euros ($ 52 billion) to build a massive AI data center in France with a capacity of up to 1 GW.

There will probably be more messages in the coming days, as the AI ​​Action summit unfolds in Paris.