In Paris on February 11th, European Commission President Ursula von der Leyen announced that Europe will allocate an additional 50 billion euros ($51.6 billion) to advance the bloc's artificial intelligence goals. This investment supplements the existing commitment of 150 billion euros from providers, investors, and industry under the European AI Champions Initiative. Von der Leyen specified during the Paris AI Summit that this combined effort aims to generate a total investment of 200 billion euros in AI within Europe. The focus of these investments, as outlined by von der Leyen, will be on industrial and mission-critical technologies. Notable companies participating in the European AI Champions initiative, led by investment firm General Catalyst, include Airbus, ASML, Siemens, Infineon, Philips, Mistral, and Volkswagen. ($1 = 0.9690 euros)