Europe Is Losing The AI Race as Energy Costs Soar

The second energy crisis in four years is further eroding Europe’s industrial competitiveness as energy costs are spiking again and undermining the European ambition to compete with the United States and China to attract AI and data center developments. Energy costs in Europe are so much higher than in the U.S. or Asia, and the grid stability is so fragile and in dire need of modernization and upgrades that many European countries are out of the competition for hosting new data/AI centers. In addition, Europe’s already congested grid…