The politicians can talk, but they needed to set up an environment that would've let a European company have a decent shot at competing with the best AI models. But they didn't. Should've thought of that before being proud of setting up those strict tech regulations.
That is not how EU does things. If you want no regulation and access to capital you should go to the US.
AI will take over a lot and the biggest AI company will be in US and China. But there will be room for Europe also on the top 10 list.
But there will be an environment that is creating sovereignty from US much more the before. We have learned our lesson