Euro Firms Fund AI Investments Mostly on Their Own

A recent European Central Bank survey reveals that companies in the euro zone are largely self-funding their artificial intelligence investments, with only a small fraction seeking external financing. The survey, which polled around 5,000 firms between April and June 2026, found that 72% of euro area firms planning AI investments intend to fund them from cash flow or retained earnings.

External options barely register, with bank loans, grants, and leasing accounting for approximately 16% of firms. Equity or venture capital comes in at 6%, while debt securities sit at just 1%. The survey suggests that companies are expected to put an average of 9-10% of their total capital expenditure toward AI in 2026.

The adoption of AI is wide but shallow, with about 70% of firms reporting some level of usage. Only 7% describe their usage as significant or intensive. Geography also plays a role, with the Netherlands, Finland, and Austria showing the highest levels of AI usage, while Italy and Ireland lag behind.