- cross-posted to:
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- cross-posted to:
- [email protected]
further details:
Meanwhile, the French financing will include commitments from the United Arab Emirates, American and Canadian investments funds and French companies like telecommunications firms Iliad and Orange, and aerospace and defense group Thales
A few days before France’s AI Action Summit, which kicked off on Monday, the UAE said it would invest between 30 billion euros and 50 billion euros in the construction of a one-gigawatt AI data center in France as part of a campus focused on the technology’s development.
https://www.cnbc.com/2025/02/10/frances-answer-to-stargate-macron-announces-ai-investment.html
I think the saddest thing here is that Europe has no capital markets union where it’s own private companies should be putting this money in
Europe will always be behind while it’s more difficult to raise funds and do business
This AI is just the latest thing, who knows what else Europe will soon fall behind in
That, I think, is a symptom not a cause.
The cause is societal: the EU thinks that innovation should come top down. By giving established corporations subsidies, and a large administration that steers everyone every step of the way. To make sure nobody does anything out of the ordinary.
That works if you want to improve car crash safety by 5%. But, ofcourse, that doesn’t work for true, novel ideas. Concensus being antagonistic to novelty.
And it’s not solely a “bad politicians” problem. A majority of Europeans are simply afraid of change, want their 9-to-5 job to look exactly the same for their whole life. The elected reflect their electorate.
Too bad the world changes regardless of you participating.