During the upcoming Paris Artificial Intelligence summit starting on Monday, France will announce that the private sector will invest a total of 109 billion euros (112.5 billion dollars) in the artificial intelligence sector. French President Emmanuel Macron made this announcement. Last month, U.S. President Donald Trump announced that OpenAI, SoftBank Group, and Oracle will invest 500 billion dollars in artificial intelligence infrastructure over the next four years to help America stay ahead of China and other competitors. The investment in France includes plans for Canadian investment firm Brookfield to invest 20 billion euros in artificial intelligence projects in the country and possible investments from the United Arab Emirates (UAE) reaching up to 50 billion euros in the coming years. The Elysee Palace stated that the UAE’s investment will also include financial support for a 1-gigawatt data center. According to La Tribune de Dimanche newspaper, a significant portion of Brookfield’s investment will also go towards a data center. Artificial intelligence requires massive amounts of energy to operate data centers, and it is believed that Europe will struggle to meet this demand in the future. Last month, U.S. President Donald Trump announced that OpenAI, SoftBank Group, and Oracle will invest 500 billion dollars in artificial intelligence infrastructure over the next four years to help America stay ahead of China and other competitors.