Italy Gives €211 Million to Data Center Tech Firm 2D Photonics

Italy awarded a €211 million ($249 million) grant to a company seeking to speed up processing at artificial intelligence data centers as part of a bid to support local startups.

2D Photonics Group’s Camgraphic subsidiary will use the funds to develop graphene-based photonics technology, the company said in a statement on Wednesday. 2D Photonics also committed to build a pilot manufacturing plant near Milan, where it will seek to move graphene photonics from the research phase to actual production. The company didn’t provide further details on the conditions of the grant.