Italy is set to launch a €150M fund to support AI startups as part of its Strategic Program for Artificial Intelligence. The fund is backed by development bank Cassa Depositi e Prestiti (CDP) and is aimed at increasing the independence of Italian industry, promoting research and programming on AI, and cultivating national capacity for developing skills in the sector. The AI boom is now in full swing, with many companies keen to be part of the algorithm-driven gold rush, and governments supporting domestic developers in the field of artificial intelligence. Italy is also looking to establish its own task force. Alessio Butti, Italy’s cabinet undersecretary in charge of technological innovation, stated, In Italy we must update the strategy of the sector, and therefore the Department for Digital Transformation is working on the establishment of an authoritative group of Italian experts and scholars.
Nvidia has recently become the first chipmaker to hit a $1T valuation; the boost to stocks followed the prediction of sales reaching $11B in Q2, off the back of the company’s chips powering OpenAI’s ChatGPT.
As for the person mentioned in the article, Alessio Butti is Italy’s cabinet undersecretary in charge of technological innovation. As a member of the Italian government, he will have a key role in overseeing the implementation of the country’s Strategic Program for Artificial Intelligence, including the establishment of an authoritative group of Italian experts and scholars.
The company mentioned in this article is Nvidia, which has become the first chipmaker to hit a $1T valuation. Nvidia’s chips are behind OpenAI’s ChatGPT, which had predicted sales of $11B in Q2.
