PYMNTS.com November 17, 2024
Can Europe create leading artificial intelligence (AI) firms without spending as much as companies in America?
Telecom billionaire Xavier Niel thinks it’s possible, provided that the founders of these AI companies avoid the temptation to cash out too early, the Financial Times (FT) reported Sunday (Nov. 17).
“I think we can create big things with a few hundred million euros,” Niel, one of Europe’s top tech investors, said in an interview with the FT.
“Europe can create competitive AI models today,” added Niel, who has backed AI companies such as Mistral. “But over the next two or three years, [success] depends on the number of initiatives and the ability of those who are the real geniuses — those building the...
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