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12/5/2023, 12:02 PM (Source: TeleTrader)
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EU approves €1.2B for cloud, edge computing project

The European Commission approved on Tuesday up €1.2 billion from its state aid fund for an Important Project of Common European Interest in the field of cloud and edge computing technologies. The project involves France, Germany, Hungary, Italy, the Netherlands, Poland, and Spain and is also expected to attract an additional €1.4 billion in private investments.

The Commission said 19 companies are expected to take part in the project, developing open-source software that will allow for real-time and low-latency services by distributing computing resources close to the user, "thereby reducing the need to transmit large volumes of data to centralized cloud servers." The research, development and first industrial deployment phases are expected to take place between 2023 and 2031, with "at least 1,000 direct and indirect highly qualified jobs" created in this period.

Baha Breaking News (BBN) / DJ