It's a great company, but it's a basic technology firm, which is pretty typical for the kind of industry that have traditionally been viewed as sensible in Euro

It's a great company, but it's a basic technology firm, which is pretty typical for the kind of industry that have traditionally been viewed as sensible in Europe. Such industries are subject to business cycles, i.e. the classic problem with machine tools, so people in these businesses need to think differently about what is good and bad, and what is sensible. The companies that compete in AI are companies that use the products of the companies that use the products of these companies, and the foundation doesn't really have much to do with what's built on top of it. If we want microchip manufacturing the thing we'd build on top would probably be NXP, but I don't think we really want microchip manufacturing unless we want to do something special. I don't have a problem with what I hear about TSMCs prices, they sound alright. What's interesting to me would be if there was some effort to make European DL/floating point maths accelerators for sale to the general public, to rid of the world of NVIDIA's margins, so that more people can have access to such machines, and then presumably, once compute were cheaper it'd be easier to have a compute intensive AI firm in Europe.