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# Spain approves EUR 719 million state stake in Telefónica-led AI gigafactory bid
- URL: https://sovereigntymonitor.eu/news/2026-06-16-spain-ai-gigafactory-sett-719-million/
- Published: 2026-06-16T12:00:00.000Z
- Updated: 2026-09-01T10:50:21.000Z
- Description: Spain's Council of Ministers authorised SETT, the state tech investment vehicle, to take a EUR 719 million equity stake in a Móra la Nova, Tarragona consortium bidding to host an EU AI gigafactory, ahead of Brussels' site selection.
- Author: Reidar Balstad
- Tags: Industry, investment and R&D, Compute and infrastructure, #news, #verified

Verified [Plan de Recuperación, Transformación y Resiliencia (Gobierno de España), 16 June 2026](https://planderecuperacion.gob.es/noticias/gobierno-aprueba-inversion-719-millones-proyecto-gigafactoria-ia-sett-prtr?ref=sovereigntymonitor.eu)

**What it does not test.** Does not confirm the EU has selected this site as a gigafactory host, nor name the final private partners, which the release leaves unspecified.

**How this item counts.** Towards autonomy: it changes who owns. Binding 2 of 3 (agreed or funded), scale 2 of 3 (medium), Verified counts in full: weight +4 of 36 possible. Spain authorises EUR719M state equity stake in gigafactory-bid consortium (own); EU site pick still pending.. [European Sovereignty Index](https://sovereigntymonitor.eu/sovereignty-index/)