EU plans to invest 1.2 billion euros in aid to challenge US cloud computing monopoly

The European Commission has approved a €1.2 billion state aid package aimed at supporting European cloud computing projects. This news was published on this site on December 5th. Based on the current exchange rate, this aid fund is approximately 9.288 billion yuan

According to reports, the project is called "Next Generation Cloud Computing Infrastructure and Services" (IPCEI CIS), which aims to promote EU enterprises in cloud computing Participation in the field is co-sponsored by seven EU countries including France, Germany, Hungary, Italy, the Netherlands, Poland and Spain.

IPCEI involves 19 projects from 19 companies. These direct players will collaborate to develop Europe’s first, EU-wide interoperable multi-provider cloud edge continuum. The figure below shows the overall structure of the IPCEI CIS

The European Commission stated that these countries will provide up to 1.2 billion euros in public funds, which is expected to drive 14 billion euros (currently approximately 10.836 billion yuan) of private investment.

According to reports, the EU’s IPCEI aims to integrate research, financial and corporate resources to drive the EU’s economic growth and competitiveness and promote its green and digital transformation

The EU has previously approved The six IPCEIs projects involve batteries, hydrogen energy, microelectronics and communication technology. Currently, 19 companies have participated in the European cloud computing project, including France's Atos and Orange, Deutsche Telekom, Telecom Italia and Telefonica

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