What does the pact with Nvidia bring to Germany?
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Whenever the German economy was concerned, Federal Chancellor Friedrich Merz had rather bad news to announce recently. The crises in traditional industries such as automotive manufacturing are putting massive pressure on the business location. Just this week, the ifo Institute presented new figures: German industry has lost nearly half a million jobs subject to social security contributions since 2019. "Germany is experiencing an intensified structural change. Ironically, the very sectors that have previously sustained our prosperity are shrinking," says Joachim Ragnitz, deputy head of the ifo branch in Dresden. While new jobs are also being created, they cannot nearly make up for the loss. "This could slow down our growth potential in the future," warns Ragnitz. Accordingly, the Federal Government celebrated a deal that it negotiated at the first investment summit in Berlin: Private investors intend to invest more than 225 billion euros in Germany over the coming years. Among other things, closer cooperation with the US chip manufacturer Nvidia was agreed upon and a corresponding letter of intent was signed. Artificial intelligence is considered an important key technology for the future. Through the cooperation with Nvidia, the industrial use of artificial intelligence in Germany in particular is to be massively advanced. Siemens CEO Roland Busch sees industrial AI as a...
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