Portugal has joined Spain in bidding to build an artificial intelligence (AI) gigafactory.
It hopes the move with its neighbour will increase its chances of securing one of the five gigafactories the European Union (EU) will help fund.
The EU’s European Commission (EC) has stated AI gigafactories are “a strategic priority” and at the end of 2025 unveiled a new €20 billion fund to build more.
It describes them as “dynamic ecosystems that foster innovation, collaboration, and development in the field of AI…bringing together computing power, data, and talent to create cutting-edge AI models and applications”.
Portugal’s Minister for the Economy and Territorial Cohesion explained: “Several bids have been submitted, with several countries submitting more than one.
“It is not easy to have this gigafactory in Portugal. Therefore, we have joined forces with the Spanish and are submitting a joint application.
“This is our opportunity to have one of the five gigafactories that the European Commission will finance.”
The funding will come via the EC’s InvestAI Facility, which will foster public-private partnerships to “guarantee a secure investment landscape and nurture a competitive and innovative AI ecosystem within Europe”.
Portugal's investment economy is set to continue its rise, with Portuguese firms anticipate better access to both external (11% vs EU’s 1%) and internal financing (16% vs EU’s 9%).
This is further boosted by the Portugal Golden Visa residency-by-investment programme, which draws responsible, long-term investment into Portuguese businesses and innovation-driven sectors.
With the Golden Visa requiring a €500,000 investment in an eligible alternative investment fund, investors can support Portugal’s economy while benefiting from freedom of movement across the 29 EU Schengen region countries, a minimal residency requirement of just seven days per year, as well as a pathway to dual EU citizenship and a second passport after the qualifying residency period.
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