Recently, the European Commission announced plans to advance Europe's position in the global AI race. Primarily, the Commission seeks to develop a 20 billion euro fund to build a network of AI gigafactories in Europe. This announcement builds off the EU's recent pledge of 200 billion euros for AI industry development. The Commission also stated that it plans to create labs to provide large-scale data sets that comply with the GDPR and EU AI Act. Additionally, EU lawmakers have announced plans to introduce the Cloud and AI Development Act, which seeks to lower regulatory barriers and stimulate private investment in AI data center infrastructure. These developments seek to put Europe on-par with global AI leaders, such as the United States and China.