France and the United Arab Emirates agreed on Thursday to a framework accord for a 1 gigawatt data centre dedicated to artificial intelligence that represents investments of between $30-$50 billion, the French presidency said.

France and the United Arab Emirates are set to spend €30-50 billion ($31-52bn) on a 1GW AI data center and other AI investments. The project was announced on Thursday following a meeting between French President Emmanuel Macron and his Emirati counterpart, Mohamed bin Zayed Al-Nahyan.

A fund from the United Arab Emirates is planning to spend between €30 billion and €50 billion ($31.2 billion and $52 billion) on a new campus for data centers in France, according to French officials.