There's nothing to celebrate here. This is another sad moment for Europeans everywhere.<p>> The first phase of this six-year endeavor is backed by €240 million (£200 million, $260 million) in funding.<p>For this to be a serious effort it would take another two zeros at the end of that number. This is 100x too small.<p>In 6 years, we'll have spent a pittance, to realize that we got basically nothing for it, and we're even further behind the US whose companies are spending tens of billions to develop new accelerators.<p>Let's take one US company at random, Groq, they've raised 10x this amount of money. That's one startup. Never mind Cerebras, SambaNova, Tenstorrent, etc. How is this effort going to compete? And they're giving the money to "38 leading partners" instead of one focused entity. It won't compete. It's just a waste.<p>The EU is still thinking too small. In an era where the US is no longer a reliable partner (maybe even a rival), and where Taiwan could disappear overnight, this is extremely stupid and dangerous.<p>I don't understand why the EU can't get serious about tech. Why does every investment need to be peanuts? Why can't we pay people well so they don't all leave to the US/Canada? Why can't we seriously invest in startups?