europe just put €525 million into its chip industry
nvidia spends around $18.5 billion a year on r&d. alone
⠀
that's over 30 times europe's entire bet, every single year
⠀
→ intel: $13.8 billion
→ amd: $8.1 billion
→ tsmc: around $7.9 billion
⠀
€525 million is a start
expecting europe to compete with the us and asia at this level is a bit of a joke
⠀
so what does it mean for the market?
short term, i don't think $BTC
or $ETH even notice a eu grant program
⠀
my take: the money that drives ai, compute and risk appetite still sits in the us and asia
that's the liquidity crypto actually reacts to
⠀
for europe this is a signal of intent, not a shift in power
not a price call, markets move on way bigger things than this
⠀
#btc
nvidia spends around $18.5 billion a year on r&d. alone
⠀
that's over 30 times europe's entire bet, every single year
⠀
→ intel: $13.8 billion
→ amd: $8.1 billion
→ tsmc: around $7.9 billion
⠀
€525 million is a start
expecting europe to compete with the us and asia at this level is a bit of a joke
⠀
so what does it mean for the market?
short term, i don't think $BTC
or $ETH even notice a eu grant program
⠀
my take: the money that drives ai, compute and risk appetite still sits in the us and asia
that's the liquidity crypto actually reacts to
⠀
for europe this is a signal of intent, not a shift in power
not a price call, markets move on way bigger things than this
⠀
#btc
