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Stock impact report

Europe's slow and steady approach to AI could be its edge [CNBC]

Principal Financial Group Inc (PFG) 
Last principal financial group inc earnings: 4/27 04:15 pm Check Earnings Report
Company Research Source: CNBC
Scarcity tends to create demand, while longer lead times give the continent an opportunity to future-proof facilities. That's where Europe stands out as a safer investment case, one fund manager told CNBC. Europe, with its fragmented markets, is often said to be operating in the shadow of the U.S. and China when it comes to scaling AI. But the very factors that challenge its growth as a major player may yet give it an edge when it comes to future-proofing the critical warehouses that power the AI boom. The world is racing to double, if not triple, the entire data center capacity that has been built over the last forty years, Pankaj Sachdeva told CNBC, McKinsey senior partner in technology, with McKinsey estimating that build-out will cost up to $7 trillion by 2030 He expects the U.S. to account for the lion's share of activity, but Europe will “continue to build at a pretty meaningful rate” to nearly double its existing capacity. “Europe is actually participating in this Show less Read more
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