Spain to Establish Company for Launch of EU's Largest Artificial Intelligence Factory. The government allocates €719 million for the launch of an AI gigafactory in Catalonia. Santander, ACS, and Telefónica will receive 47% of the capital. The project seeks European funding and aims to become a key hub.
Spain has approved the creation of a new company that will be responsible for building and managing the country's first artificial intelligence gigafactory. The Council of Ministers has authorized the allocation of 719 million euros from European funds for this project, which is planned to be carried out in Móra la Nova (Tarragona). The key private investors are Banco Santander, ACS, and Telefónica—each will receive a 15.67% stake, collectively controlling 47% of the capital. After Multiverse Computing joins with a 4% share, the private sector will gain a controlling stake of 51%.
The state, represented by Sociedad Española para la Transformación Tecnológica (SETT, also known as “SEPI Digital”), will retain a 47.99% stake. The Catalan government will initially be limited to 1%. Minister for Digital Transformation and Civil Service Óscar López previously stated that total public investment in the project could amount to between 600 and 800 million euros.
Creating a legal entity registered in Móra la Nova is a mandatory condition for participating in the European competition to host AI gigafactories. The European Commission will soon launch the selection process, within which Spain expects to attract up to 4 billion euros in investments from public and private sources. In addition to Móra la Nova, the project also includes the Madrid municipality of San Fernando de Henares. The selected facilities are expected to start operating in 2027–2028 and will be eligible for additional EU funding.
The issue of distributing control between the state and private investors became one of the key points during preparations. As Expansión notes, it was precisely the involvement of major Spanish companies that made it possible to secure the required level of private financing. Similar projects in other parts of Europe also face competition for resources and the attention of the European Commission. The impact of new technology centers on regional economies is already being discussed at the local government level, and in Catalonia, the topic of infrastructure development and investment has traditionally sparked fierce debates. In this context, it is telling that earlier the Barcelona Chamber emphasized the importance of expanding transport and technological capabilities for the region's economic growth.
For reference: artificial intelligence gigafactories are large data processing and computing centers capable of supporting AI development at the national and European level. Their emergence is linked to growing demand for computing power and the need to localize key technologies within the EU. In the coming years, such facilities may become strategic for Spain's digital independence and competitiveness.
