Billionaires Niel, Saadé and Schmidt Invest in €300 Million AI Lab
- Paris-based lab will involve former Meta and Google scientists
- Niel’s Iliad and Saadé’s CMA CGM will each invest €100 million
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Billionaires Xavier Niel, Rodolphe Saadé and Eric Schmidt announced a new nonprofit artificial intelligence research lab in Paris, marking France’s latest push to develop sovereign AI technology.
Niel’s Iliad and Saadé’s CMA CGM SA will each invest €100 million ($108 million), the two businessmen said on a panel of the AI-Pulse conference in Paris on Friday. Former Google Chief Executive Officer Eric Schmidt, also present at the event, will invest an undisclosed amount via Schmidt Futures.