Europe's sovereign-AI money lands above the compute, not in it
A single day brought European "sovereign AI" funding rounds from Denmark to Sweden to London, a fresh Irish chip council, and the AI Act's compliance market coming to life. Look at where the money actually goes and the old pattern holds: capital pools in the governance and optimisation layer, while the compute and chips underneath still raise slower and smaller. Sovereignty you can audit is not yet sovereignty you can run.
