EU invests €10 billion in AI factories; my calculations suggest it's risky

Last night, I was chatting in a group with some friends who do AI training. One guy mentioned he wanted to fine-tune a 7B open-source model recently, but found that hourly GPU rates from European cloud providers were nearly double those of AWS. He ended up having to switch strategies and use a smaller model. I checked it myself, and sure enough, computing resources in Europe are both expensive and scarce. That’s probably why the EU is getting anxious now.