Germany’s Economy Ministry signs AI memorandum with Nvidia — Channel NewsAsia

Germany’s Economy Ministry has signed a memorandum of understanding with U.S. chipmaker Nvidia. The document is related to promoting artificial intelligence technologies in German industry, Channel NewsAsia reports.

The agreement became known during an investment summit in Berlin on October 19. The German government did not provide details of the memorandum. Germany and Nvidia are expected to announce a partnership to develop AI in industry during the summit, which runs until Tuesday.

Call to business

German Chancellor Friedrich Merz, speaking at the opening of the event alongside Nvidia CEO Jensen Huang, urged German companies to adopt artificial intelligence more actively and make their own data available for these technologies. According to him, the country is undergoing a fundamental economic and technological transformation linked to rapid progress in AI.

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Merz called cooperation with Nvidia important for Germany’s future success. Huang, for his part, mentioned the company’s existing cooperation with German carmakers, including Mercedes-Benz. The company is developing premium robotaxis based on Nvidia software.

Investment plans

A group of German companies and investors, including Siemens and Deutsche Bank, estimated in its report that the potential for investment in Germany by 2035 could reach up to €4.1 trillion. The funds could be directed, among other things, to artificial intelligence, energy and defense.

The private business group Made for Germany said its members plan to invest more than €850 billion by 2028. In 2025, members of the initiative invested more than €200 billion, and new companies and investors were invited to join it.