One aspect of the AI bubble that is not talked about very much is how the European market is a key factor in any serious calculation about future revenue. If Europe decides to, or is forced to decouple its digital infrastructure from the US, that essentially slashes the addressable market of a company like chatGPT by a third. And Europe has some of the richest customers too.

In other words, Sam Altman et al. should be hardcore Atlanticists at this point.

You are right, but I have the feeling that the Google, Microsoft, ... and the IA companies think that the EU is a acquired market. It's false, they can shift off the US, they eventually will.

It also destroys the winner takes all market. Investors would count on the winner takes all market and give infinite VC money to a start up, so that they would make a product that is slightly better than the competitor and kill the competition early on.