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France’s Bold AI Strategy: €10 Billion Investment And UAE €50 Billion Data Center Collaboration

France is ready to take a bold step in the AI race, announcing a massive €10 billion investment plan to enhance its position in the global tech ecosystem. This strategy comes at a critical moment, as the country looks to solidify further its dominance and sovereignty in the rapidly expanding artificial intelligence sector.

In a move that signals France’s commitment to AI innovation, Bpifrance, the nation’s public investment bank, revealed it will inject €10 billion into AI-related projects by 2029. The bank’s plan includes funding startups focusing on AI models, infrastructure, and hardware—such as chips—and also backing venture capital firms that are investing in the sector. This ambitious initiative will support companies developing cutting-edge AI technologies, reinforcing France’s competitive edge on the world stage.

The announcement comes just as tech leaders gather in Paris for a global summit on AI. Co-hosted by French President Emmanuel Macron and Indian Prime Minister Narendra Modi, the summit will bring together government officials, tech entrepreneurs, and thought leaders to discuss the future of artificial intelligence. The summit’s timing underscores the urgency of the AI race, as countries and corporations alike ramp up their investment in this transformative technology.

France is already home to 750 AI startups, a number that continues to grow thanks to its thriving ecosystem. “Our talent pool and infrastructure are primed to fuel innovation,” said Bpifrance CEO Nicolas Dufourcq. With this €10 billion commitment, Bpifrance plans to ensure that France maintains its position as a key player in the global AI landscape.

Bpifrance’s track record speaks for itself. Over the past decade, it has been a significant investor in France’s tech ecosystem, helping early-stage startups get off the ground and participating in major funding rounds for promising AI ventures. Notable French AI companies, such as Mistral, H, and Poolside, already count Bpifrance as a shareholder. Additionally, smaller startups like Ekimetrics and Artefact have also benefited from the bank’s support.

Looking ahead, Bpifrance plans to double down on its AI investments. The focus will be on areas such as foundation models, AI infrastructure, and companies developing AI chips. Bpifrance is also expanding its investment horizon to include VC firms that specialize in AI, both within France and abroad. Through partnerships with firms like Elaia and Frst, Bpifrance aims to foster a robust investment ecosystem that propels France to the forefront of the global AI race.

This commitment to AI investment comes just hours after the announcement of a €50 billion AI data center project in France, funded by both the United Arab Emirates and France. With a planned capacity of 1 GW, the data center will be a key infrastructure element in supporting AI development.

In a world where global competition is intensifying, France’s bold move to strengthen its AI sector signals its determination to remain a leader in technological innovation.

Cyprus Construction Trends: Permit Count Slips While Value and Scale Surge in 2025

The Cyprus Statistical Service (Cystat) has reported a notable shift in the construction landscape for 2025. The latest figures reveal a modest 1.9% decline in building permits issued in March compared to the same month last year, signaling a nuanced trend in the nation’s developmental activities.

Permit Count Decline in March

In March 2025, authorities authorised 572 building permits—down from 583 in March 2024. The permits, which total a value of €361.5 million and cover 296,900 square metres of construction, underscore a cautious pace in permit approval despite ongoing projects. Notably, these permits are set to facilitate the construction of 1,480 dwelling units, reflecting an underlying demand in the housing sector.

Q1 2025: Growth in Value, Construction Area, and Dwelling Units

While the number of permits in the first quarter (January to March) decreased by 15.8% from 1,876 to 1,580, more significant, economically relevant metrics saw robust growth. Total permit value surged by 21.7%, and the authorised construction area expanded by 15.6%. Additionally, the number of prospective dwelling units increased by 16.7% compared to the corresponding period last year. This divergence suggests that although fewer permits were issued, the scale and ambition of the approved projects have intensified.

New Regulatory Framework and the Ippodamos System

Since 1 July 2024, a pivotal transition has taken place in permit administration. The responsibility for issuing permits has moved from municipalities and district administration offices to the newly established local government organisations (EOAs). The integrated information system, Ippodamos, now oversees the licensing process, streamlining data collection on both residential and non-residential projects across urban and rural areas.

Comprehensive Data Collection for Enhanced Oversight

The Ippodamos system categorises construction projects using the EU Classification of Types of Construction (CC). This platform gathers extensive data on the number of permits authorised, project area and value, and the expected number of dwelling units. It covers a broad spectrum of construction activities—from new builds and civil engineering projects to plot divisions and road construction—while excluding renewals and building divisions. The thoroughness of this new regulatory structure promises greater operational transparency and more informed decision-making for policymakers and industry stakeholders.

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