A fund from the United Arab Emirates (UAE) plans to invest between €30 billion to €50 billion (US$31.2 billion to US$52 billion) in a new data center campus in France, French officials announced.

The facility, with a one-gigawatt capacity focused on AI, will be developed by a consortium of French and Emirate companies.

The investment follows a strategic AI partnership signed in May 2024 between France and the UAE and will be unveiled at Macron’s flagship investment event later this year.

The Abu Dhabi-based MGX fund, a US$100 billion investment fund, will provide initial financing.

MGX is also involved in “Project Stargate,” a US$500 billion initiative led by SoftBank Group Corp. and OpenAI to build data centers in the US.

This move aligns with the UAE’s strategy to expand its influence through AI and data projects.