AI investment in Europe further boosted by €1bn Italian investment
But could a maturing eastern European start-up ecosystem prove a competitor?
Technology
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Microsoft and Google parent begin heavy AI investment in Europe
Tech giants Microsoft and Alphabet have announced heavy investments into the AI landscapes of France and Germany this week. Microsoft is reportedly set to invest €3.2bn in building up its AI infrastructure and cloud capacity in Germany by the end of the next year. The investment is expected to cover the training of some 1.2m…
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EC, EIB and ESA boldly go into space-fuelled partnership
The European Commission, European Investment Bank and European Space Agency have signed a collaboration agreement with a view to strengthening the continent’s space sector. Announcing the move, the European Investment Bank (EIB) said the collaboration between the three institutions aimed to foster cooperation and coordination with a focus on providing financing and advisory support for…
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France buoys position as Europe’s tech start-up centre
France has been identified as the second-largest start-up “ecosystem” on the continent. The claim was made in an article on the site Maddyness, which also posited that Paris was set to become a ‘boomtown’ for investment in artificial intelligence (AI). Hugo Borensztein, co-founder and CEO of AI platform Omi, who was interviewed for the piece,…
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Financial businesses ‘increasingly open to digital’ – Broadridge
Financial institutions are increasingly embracing a ‘digital revolution’, according to analysis by global fintech group Broadridge. The report, Digital Transformation Enters a New Phase – Here’s What Comes Next, found more than half of participants saying digital transformation was the most-important strategic initiative for their company, with almost three-quarters (71%) suggesting AI had changed how…
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European fintech faces ‘year of reckoning’
A ‘year of reckoning’ has arrived for the European fintech scene, according to growth investor Finch Capital. The firm’s State of European Fintech 2023 report found funding for the sector dropped by 70% year on year, to levels last seen before 2020. At the same time, the report added, while mergers and acquisitions had remained…
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European Council gives final approval on Chips Act
The ‘Chips Act’, aimed at boosting Europe’s semiconductor industry, has received the green light from The European Council. The Act, about which Expert Investor has written extensively over the last year, will seek to help develop a European industrial base in the field of semiconductors, attract investment, promote research and innovation, and prepare the continent…
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Europe, China and the US chip away at each other
Some element of ‘chip war’ would appear to be brewing between China and Europe. The Chinese government has announced that companies exporting gallium and germanium – both vital in the production of computer microchips – will now require an export licence. This comes a week after Dutch firm ASML was hit with new export controls…
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Investors must be wary of ‘AI losers’ as tech valuations spike
In the face of the excitement surrounding the prospects for artificial intelligence, the market needs to do its homework on potential risks and rewards At the end of last year, plenty of experts were calling time on the decade-long technology rally. Its valuations couldn’t be sustained in an environment of higher interest rates, they said,…
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Samuel Croset: Creating blockbuster drugs using AI
How investors in the biotech sector can benefit from artificial intelligence’s increasing importance in drug discovery and development purposes Artificial intelligence and machine-learning algorithms are disruptive technologies that are having a twofold impact on the drug discovery process. First, the technology can be applied to save time and money during the process of identifying molecular…
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European Chips Act strengthens hand on microchip production
The European Parliament and EU Member States have reached agreement on the European Chips Act, which seeks to make the market competitive with the US and Asia in the production of microchips. A statement from the European Commission said the continent’s dependence on chips from Taiwan and South-East Asia had been illustrated by the shortage…
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EIC calls for increased funding in innovation
It receives requests for more than €6bn but only has a fraction of that sum to dish out