Greg Stanton, CEO of Nvidia, expressed hope for the growth and advancement of the artificial intelligence economy in Europe at a conference in Berlin. At this event held at the Tempodrom, he referred to the development of data center infrastructure and Nvidia's modular tools to accelerate this process.
Advancements in the Artificial Intelligence Economy
Stanton said: "The artificial intelligence economy in Europe is just beginning and gaining momentum, and it is great to see these advancements." He introduced a new design for a modular computing center that resembles a shipping container and stated that this design could enable the construction of a data center within a few days. Stanton added: "This design will change the way AI centers are built."
The CEO of Nvidia also stated that the company invested $10 billion (approximately €8.9 billion) in European startups last year. However, Europe lags behind the United States and China in data center construction, holding only 5% of the world's artificial intelligence computing capacity, while the figure for the United States is 75%.
Disruption in Cigarette Tax Implementation
Alongside this news, the German Ministry of Finance mistakenly introduced a tax increase on tobacco products ahead of schedule. A spokesperson for the German Ministry of Finance announced that this tax increase was confirmed in the wording of the law to take effect on January 1, 2027, and this issue arose from a technical error that caused the law to be implemented immediately.
This mistake stemmed from a flaw in the initial drafting of the law, and customs officials have been informed of this issue. The Ministry of Finance's website also emphasized that the price increase will not take effect until the beginning of the new year.
Youth Protests in Germany
In another news, a youth initiative titled "Generation Z is Organizing" has called for widespread protests in 21 cities across Germany, including Berlin, Cologne, Hamburg, and Munich, on Saturday, October 31. Thousands are expected to participate in this demonstration against "dilapidated schools and austerity policies" as well as to protest against living costs, social injustice, conscription, and climate change.
The German police stated that they are "vigilant and calm" and intend to protect the right of people to assemble and express their opinions. However, images of violence and destruction from protests in France, Italy, and Spain have raised concerns among politicians and domestic police. Andreas Roßkopf, head of the German Federal Police Union, emphasized that the police will respond strongly to any riots and insecurity.
This news comes as the German central bank, Bundesbank, expects to see further growth in the country's economy in the fourth quarter of this year. This forecast follows a decline in growth in the third quarter due to last summer's drought.
Friedrich Merz, the Chancellor of Germany, also stated at a business conference in Berlin that he does not believe Europe is on the path to a trade war with China, while acknowledging Beijing's "unfair practices."
