00:00Computational Power requires immediate, substantial financial capital from both public and private.
00:12In this context, I welcome the European AI Champions Initiative that pledges 150 billion euros from providers, investors and industry.
00:27And today I can announce that with our Invest AI Initiative, we can top up by 50 billion euros.
00:36So thereby, we aim to mobilize a total of 200 billion euros for AI investment in Europe.
00:47We will have a focus on industrial and mission-critical applications.
00:54It will be the largest public-private partnership in the world for the development of trustworthy AI.
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