Signal Europe holds only 4 of the world's 50 largest tech firms and a small share of cloud, AI and quantum

Summary

Draghi counts only four European companies among the world's 50 largest technology firms, and Europe's share of revenue in these fields is well below that of the United States. About 70 percent of AI foundation models developed since 2017 came from the United States. The three largest US hyperscalers hold more than 65 percent of both the global and the European cloud market, whereas the largest European cloud provider has only 2 percent of the EU market. In quantum computing, five of the ten largest firms by investment are American and four are Chinese, and none is based in the EU. The report uses these figures to show how thin Europe's presence is in the technologies at the centre of the productivity gap.