Because capital goes where it is wanted?
From EuroNews, September 16:
Eurozone households have hundreds of billions of euros invested in US technology. Analysts say Europe has the money and promising companies, but too few become accessible investments for ordinary savers.
European savings are increasingly exposed to—and helping finance—the expansion of artificial intelligence in the United States.
Eurozone households hold around €440 billion in US technology companies, including Nvidia and Alphabet, according to European Central Bank President Christine Lagarde.
Speaking in Vienna on Monday, Lagarde warned that European savings risk paying for the US AI boom without Europe receiving a comparable share of the economic benefits.
“The companies are being built elsewhere,” she said. “Last year the United States produced 59 notable AI models, and China produced 35. France and the United Kingdom produced one each.”....
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