Summary of an article by Kliment Robev
In brief
After the European Commission announced a €200 billion plan to invest in artificial intelligence, Kliment Robev asks whether the EU can close the gap with the US and China — and what its own path might be.
Key points
- The InvestAI fund sets aside €20 billion for four AI gigafactories: infrastructure for training models, more computing capacity, less dependence on outside suppliers and support for start-ups — with companies such as Airbus, Siemens, Infineon, Philips and Volkswagen involved.
- For comparison, Amazon, Microsoft, Alphabet and Meta alone are expected to spend more than $300 billion a year on capital expenditure, mostly on AI.
- China, with DeepSeek, showed that models can be built with far fewer chips and a much smaller budget. Its strategy is to let the path be cleared first and avoid America’s mistakes.
- Europe has become the world’s biggest technology regulator, and regulation has crowded out innovation — which is why the EU has no companies to match the “Magnificent Seven”.
- Robev sees the EU’s chance not in catching up on infrastructure but in people: around 200,000 new IT specialists graduate in the EU each year — almost twice as many as in the US. Natural intelligence may be the key to adopting the artificial kind quickly.
Context
Published on 14 February 2025, days after the European Commission announced the InvestAI plan and shortly after the arrival of China’s DeepSeek model.
Views reflect his position at the date of publication and are not investment advice. Regulatory information
