UAE to invest 40 billion euros in Germany, including for data centres: Berlin

AI Summary

During a state visit to Germany, the UAE leadership pledged to invest 40 billion euros in the German economy, including the construction of data centers with up to one gigawatt capacity. An investment council will be established to enhance business ties, with Gulf energy wealth fueling AI sector growth.

The leader of the United Arab Emirates was on a state visit to Germany on Thursday that resulted in a promise to invest 40 billion euros ($46.5 billion) into Europe's top economy. The money would partly pay for data centres with a capacity of up to one gigawatt, Berlin said, and an "Investment Council" would be set up to boost business links between the two nations. The Gulf is a key source of capital for the AI boom as oil-rich states in the region seek to invest their energy wealth.