ASML Exec: EU's AI Rules Push Talent to Silicon Valley

A top executive at Dutch chipmaking giant ASML argues that the European Union's approach to artificial intelligence is backfiring. Overregulation, he contends, is driving innovation and talent away from Europe and towards Silicon Valley.

Regulation Concerns

ASML's Chief Financial Officer Roger Dassen stated that the EU's focus on regulating AI is stifling its development. He believes talented individuals are taking their expertise and resources to the United States instead.

Call for Policy Changes

Dassen's remarks, made at a political event, add to the growing criticism of the EU's proposed AI law. ASML, a major player in the European tech scene, has actively campaigned for a pause on the law's implementation.

Lobbying Efforts

The company has invested significantly in French AI firm Mistral, boosting its influence on EU policy. ASML executives previously signed a letter with dozens of other companies, requesting a two-year pause.

Geopolitical Challenges

Dassen also voiced concerns about the level of protection European companies receive amid global tensions. He questioned whether companies like Airbus, Nokia, and ASML feel adequately supported by Europe in the face of competition from the U.S. and China.

Access to Policymakers

ASML's top lobbyist has previously noted the difficulty in engaging with EU politicians. Reportedly, securing meetings with senior officials in the White House is easier than meeting with EU commissioners.

Capital Markets Union

Dassen urged the EU to finalize its capital markets union. The economic initiative aims to create a single market for capital across the EU. This, he believes, would improve access to funding for startups, allowing them to scale up within Europe.