European tech is starting to bounce back — and AI is turbocharging the recovery.
The continent is now home to more highly skilled professionals in the field than the US, according to new research by Atomico, a VC firm headquartered in the UK.
This overtaking follows a decade of rapid progress. Over the past 10 years, the number of people working in artificial intelligence across Europe has increased by a whopping 1,000%.
This talent pipeline is now flowing into some impressive startups. In 2023, AI companies raised 11 of Europe’s 36 mega-rounds of $100mn or more. They include France’s Mistral AI, which bagged €105mn in the continent’s largest-ever seed round, and Aleph Alpha, which this month secured €460m in Series B funding.
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