Europe wants to be part of the AI race against China and the U.S. — and shake off its anti-innovation image.

Music was blaring and people were cheering at the Artificial Intelligence Action Summit in Paris on Monday as French President Emmanuel Macron declared France is “back in the AI race.”

The bold call comes after Macron touted a 109 billion euro ($112.8 billion) investment in AI in the country. But it also underscores Europe’s desire, led by France, to be a part of the conversation around AI leadership and innovation that has so far been dominated by the U.S. and China.

Last month, America’s $500 billion Stargate announcement made headlines globally, followed by DeepSeek’s AI model, which sent shock waves across financial markets and highlighted China’s ability to keep apace with U.S. innovation.

Europe has long been seen by its critics as a place that has regulated the tech industry too heavily to the detriment of innovation.

Though that image has not entirely been changed, there are some in the technology industry who think Europe is moving in the right direction.

Source: CNBC