Nokia CEO Hotard says Europe lags on AI data centers
Business
Nokia CEO Justin Hotard says Europe is falling behind in building the data centers needed for AI because of energy constraints and strict regulations.
While places like major tech companies are expected to pour money into AI infrastructure this year, European projects, like Amazon's, are getting stuck waiting for power grid connections.
Nokia's AI cloud business 8% sales
Nokia is betting big on its AI and cloud business, which already makes up 8% of its sales and is set to grow fast over the next few years.
Hotard cautions that if Europe doesn't step up its game, tech companies might just pack up and move their AI operations to countries where it's easier (and faster) to build what they need.