The continent has yet to create a tech company to rival Alphabet, Amazon or Apple. Ian Hogarth explains why this matters — and how to set it right
In 2024, artificial intelligence is consistently front-page news. From Nvidia hitting a trillion-dollar market cap to the growing energy usage of data centres, it is the most discussed technology of our time. And it is a technology that the US dominates, with three of the most valuable AI start-ups, Anthropic, OpenAI and xAI, based there.
the Dutch chip equipment maker, is now worth over $275bn, but has been consistently tackling its mission since 1984. Nvidia is a $3.4tn company today, but in 2010, when it was 17 years old, it was valued at less than $10bn. If Europe wants a true tech giant, it will require steely determination from founders and investors to not sell and keep building. While Europe is yet to produce its first trillion-dollar tech company, that’s not the first aim of the game.
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