Xavier Niel, one of Europe’s top technology investors, believes the region can succeed in creating leading artificial intelligence companies even without the billions in capital raised by US competitors — as long as founders are not tempted to cash out too early.
“I think we can create big things with a few hundred million euros,” the French billionaire who made his fortune in telecoms with operator Iliad and now invests broadly in start-ups. This includes backing Paris-based AI group Mistral which has soared to a €6bn valuation within a year of being founded.
“Europe can create…