Google has launched the AI Futures Fund, aimed at supporting startups in developing innovative artificial intelligence solutions.

The application period for the program will close on June 30, 2025, with the initiative set to kick off in September and culminate in a Demo Day in December.

Following the announcement of the AI Futures Fund, Google stock closed at $172.50, reflecting a 2.1% increase, driven by strong investor confidence.

The program aims to accelerate the clean energy transition by providing startups with resources to scale their operations and tackle climate challenges.

Participants will benefit from resources such as free Cloud TPUs, Cloud credits, and advanced AI tools including Gemini and Imagen.

Agostino Simonetta, head of Google for Startups in Europe, Middle East, and Africa, emphasized the crucial role these startups play in developing technologies for energy transition.

Google asserts that AI can play a significant role in helping Europe meet its climate targets while simultaneously fostering economic growth.

This initiative highlights how major tech companies can leverage their resources to foster innovation in critical areas like energy, supporting climate goals and creating new economic opportunities.

The curriculum will include training in AI/ML infrastructure, product design, market strategies, and leadership development tailored specifically for energy startups.

Founders in the accelerator will receive dedicated expert assistance to address technical challenges, enhancing their startups' growth potential.

In addition to the AI Futures Fund, Google is testing a new 'AI Mode' on its search homepage to improve user experiences with advanced machine learning algorithms.

The launch of the AI Futures Fund coincides with a positive market environment, as technology stocks have been buoyed by a recent truce in the US-China trade war.