When Peter Wennink stepped down as CEO of ASML in April 2024, he left behind a legacy that transcended the semiconductor industry. Under his stewardship, ASML not only became Europe’s most valuable technology company but also a pivotal player in the geopolitical tug-of-war between the United States and China.
China rarely dominates Western headlines in the same way as Silicon Valley or Brussels, yet few countries shape the global future of artificial intelligence as quietly and consistently. While public debate in Europe and the United States often focuses on regulation, ethics and market competition, China has taken a different path. It treats AI not as a standalone sector, but as a strategic foundation for national power.
Europe is entering a decisive moment. While the United States and China continue to dominate the global AI landscape, Europe is searching for a path that protects its values without sacrificing competitiveness or autonomy. The real question is no longer whether Europe should build its own AI model, but what kind of model is actually achievable — and how it can turn its structural strengths into strategic leverage.
Europe is entering a phase it has avoided for decades: the acceleration of defence innovation driven by artificial intelligence. What was once a patchwork of slow-moving national programs is shifting into a coordinated response to geopolitical pressure, battlefield realities and NATO-level technology standards. The continent is not rearming in the old sense—it is rewiring its defence thinking for an age where software, autonomy and data matter as much as hardware.
AI is not a technological upgrade but a structural rupture. For the first time in two centuries, a technology wave is not merely reorganizing labor but actively absorbing cognitive work at scale. Tasks that once required teams of analysts, developers, legal staff or financial specialists can now be executed in minutes. This is not automation as we knew it; it is capability displacement in its purest form.
Europe is entering a decisive phase in its technological trajectory. While the global AI race is often framed as a binary contest between the United States and China, the real story is more complex. Europe is quietly, sometimes reluctantly, shaping itself into a multi-node AI power structure—one built on industrial strength, democratic governance and a patchwork of national strategies that do not always align but together form a distinctive technological identity.
While the world often focuses on Wall Street, a quieter revolution is unfolding in China. Once seen primarily as the “factory of the world”, China is now emerging as a global powerhouse in digital finance, leveraging technology, scale and state coordination to reshape the rules of capital. From mobile payments to digital banking, fintech innovation in China is not just about efficiency— it’s a strategic move to extend influence beyond its borders.
