Page 3 - EE Times Europe Magazine – June 2024

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EDITOR’S LETTER

Microsoft, Amazon, IBM and IQM

Choose France. Will You?

The chandeliers in the Hall of Mirrors Versailles, but the Choose France Summit is nothing more than an
at the Château de Versailles shone brightly international communications campaign, and the French government
in May when French President Emmanuel makes no secret of it. Nevertheless, would these investments have
Macron welcomed 180 French and foreign taken place without the lavish reception? Most certainly.
business leaders to the seventh edition Money doesn’t fall from heaven. Large corporations are not philan-
of the Choose France Summit. Annus thropists but financiers with established KPIs to measure success.
mirabilis: France set a record by securing France has some unique strengths, but it’s worth highlighting the
€15 billion in foreign investments, with the advantageous measures to reduce corporate taxes and social charges.
potential to create 10,000 jobs. Notably, the Besides, France’s research tax credit covers 30% of all R&D expenses
red carpet was ceremoniously rolled out for AI and quantum players up to €100 million, and 5% above that threshold.
looking to set up in France.
“Nous choisissons la France,” proclaimed Brad Smith, vice pres-
ident and chairman of Microsoft, as he shook hands with Macron
at the Choose France Summit. Building on its 41-year presence in
the country, Microsoft pledged to invest €4 billion in cloud and AI
infrastructure and bring “up to 25,000 of the most advanced GPUs to
the country by the end of 2025.” The Redmond, Washington-based
company aims to train 1 million people and support 2,500 French AI
startups via the newly launched Microsoft GenAI Studio by 2027.
Amazon, for its part, announced a plan to invest more than
€1.2 billion in its Amazon Web Services cloud infrastructure “to support
France’s flourishing generative AI opportunity” and logistics infrastruc-
ture to increase delivery speeds. The new investment is expected to
create more than 3,000 additional permanent jobs in the country.
U.S. tech giant IBM committed to extending the reach of IBM
France Lab Paris-Saclay, which was unveiled at Choose France 2019
with a mission to target AI research. The lab’s focus will now include French President Emmanuel Macron shaking hands with Brad
quantum computing, with a new investment of €45 million and the Smith, vice president and chairman of Microsoft, ahead of the
recruitment of 50 researchers and engineers over the next year. The Choose France Summit 2024
objective is to contribute to the French quantum ecosystem through
education, the development of technological use cases and collabora- Macron’s decision to open Louis XIV’s residence was no mere
tive research. coincidence. In his time, King Louis XIV was considered the patron of
Turning south, Espoo, Finland-based IQM Quantum Computers con- science and technology. During the 55 years of his reign, he founded
firmed a collaboration with CEA-Leti in Grenoble to set up a pilot line the French Academy of Sciences and the Paris Observatory. The
dedicated to the high-throughput production of large-scale quantum Château de Versailles was also a “royal” laboratory where renowned
processors. IQM also committed to building an industrial-scale man- scientists presented their achievements in physics, chemistry,
ufacturing facility in France. Production is scheduled to start in 2027, mechanics, hydraulics engineering, astronomy, medicine and surgery.
and the overall project represents an investment of €100 million. Macron himself is a fervent supporter of technology. He built the
The list doesn’t end there: In total, 56 investment projects were first part of his presidency on the promise of turning France into a
served up at this year’s Choose France. Is it appropriate to proudly “startup nation” and nominated Thierry Breton—an electrical engi-
shout cocorico? As a Frenchwoman, I don’t deny my enthusiasm. neer and a former CEO of Thomson and France Télécom—as France’s
The Élysée claimed 10,451 foreign investment projects in France European commissioner. In 2021, Macron launched France 2030, a
and 307,940 jobs maintained or created over the 2017–2023 period. €30 billion investment plan to create France’s future technological
Summit organizers also referred to the annual EY European Attrac- champions in sectors like semiconductors, AI, quantum, robotics,
tiveness Survey 2024, which shows that France tops the league table electric vehicles and renewable energy sources.
for foreign investment. The U.K. has moved up to second place with With the Choose France Summit, the Sun King’s absolutism contin-
a 6% increase, while Germany is relegated to third place on a sharp, ues to shine. ■
12% drop from the previous survey.
Unsurprisingly, the Élysée didn’t specify that the number of foreign
IMAGE: MICROSOFT the 23rd EY European Attractiveness Survey. Moreover, in R&D, an —Anne-Françoise Pelé,
direct investment projects had fallen by 5% in 2023, according to
attractiveness driver for France in recent years, projects have been
slackening (down 15% in 2023 from 2022), with investment intentions
less marked than in the U.K. (46% versus 54%).
editor-in-chief of EE Times Europe
It’s easy to be dazzled by the royal splendor of the Château de
www.eetimes.eu | JUNE 2024