France's public investment bank, Bpifrance, has announced plans to invest up to €10 billion (approximately $10.3 billion) in the country's artificial intelligence ecosystem. This significant commitment comes just days before the Artificial Intelligence Action Summit in Paris, where global tech leaders and heads of state will gather to discuss the future of AI.

Bpifrance has been a key player in France's tech ecosystem for over a decade, providing small grants to early-stage startups, participating in large funding rounds, and investing in venture capital firms through its "fund of funds" strategy. The investment bank has already established itself as a shareholder in some of France's most prominent AI startups, including Mistral, H, and Poolside.

According to Bpifrance CEO Nicolas Dufourcq, France's AI ecosystem is already thriving, with 750 world-renowned startups and a solid talent pool. The investment bank's commitment aims to further strengthen France's position as a global leader in the strategic field of AI. "Thanks to our investments and ongoing support, we are strengthening France's position as a global player in this strategic field," Dufourcq stated.

Bpifrance plans to focus its investments on key areas, including foundation models, AI infrastructure companies, and hardware companies working on AI chips. The investment firm also intends to invest in other investment firms, specifically venture capital firms that plan to focus on AI investments. Notably, Bpifrance is open to investing in both French and foreign entities, demonstrating its commitment to fostering a global AI ecosystem.

The investment commitment comes on the heels of a separate announcement by the United Arab Emirates and France to invest up to €50 billion ($52 billion) in building a massive AI data center in France with a capacity of up to 1 GW. This series of announcements is expected to continue as the AI Action Summit unfolds in Paris, solidifying France's position as a hub for AI innovation and investment.

The implications of Bpifrance's investment commitment are far-reaching, with the potential to drive innovation, job creation, and economic growth in France's AI sector. As the global AI landscape continues to evolve, France's strategic investment in its AI ecosystem positions the country for long-term success and leadership in this critical field.

With its significant investment commitment, Bpifrance is sending a strong signal to the global tech community: France is committed to being a major player in the AI revolution. As the AI Action Summit gets underway, all eyes will be on Paris, where the future of AI is being shaped.