French President Emmanuel Macron unveiled a $112 billion investment package from the private sector to boost the AI ecosystem in France and Europe.

According to President Emmanuel Macron, foreign and domestic companies in France have agreed to invest a total of €109 billion ($113 billion) in artificial intelligence projects in the country. The investment is part of the European country’s plan to become a competitive hub for AI development,

French President Emmanuel Macron said on Monday that his country will receive $112.6 billion in private investments to boost its artificial intelligence sector.

PARIS — U.S. Vice President JD Vance warned global leaders and tech CEOs at a Paris summit on artificial intelligence on Tuesday that “excessive regulation” would kill the rapidly growing AI industry.

JD Vance is delivering a keynote speech on the final day of the Paris AI Summit during his first foreign trip since taking office as vice president