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Assess my exposure →— EU-27
Is AI profitable?As of 06/15/2026: No
In EU-27, AI spent €8B for €3.5B in estimated revenue.
44% of break-even reached (16 entities tracked).
Estimated real-time cash flow
Break-even Target Projection
At the current rate of revenue growth and spend stabilization, the European AI ecosystem will reach overall financial break-even around 2031 (optimistic target 2029 - pessimistic 2035).
AI spend vs revenue
Breakdown by Sector
Tracked companies
| Company | Country | Sector | Spend | Revenue | Net |
|---|---|---|---|---|---|
| Nebius | 🇳🇱 Netherlands | Infrastructure / Cloud | * | * | -€1.1B |
| Mistral AI | 🇫🇷 France | Foundation models | * | * | -€870M |
| Aleph Alpha | 🇩🇪 Germany | Foundation models | * | * | -€640M |
| Poolside | 🇫🇷 France | Foundation models | * | * | -€580M |
| Helsing | 🇩🇪 Germany | Applications | * | * | -€470M |
| OVHcloud (IA) | 🇫🇷 France | Infrastructure / Cloud | -€400M | ||
| H Company | 🇫🇷 France | Foundation models | * | * | -€245M |
| Scaleway (IA) | 🇫🇷 France | Infrastructure / Cloud | * | * | -€180M |
| Black Forest Labs | 🇩🇪 Germany | Foundation models | * | * | -€140M |
| IQM (quantique/IA) | 🇫🇮 Finland | Semiconductors / Equipment | * | * | -€130M |
| LightOn | 🇫🇷 France | Foundation models | * | * | -€65M |
| DeepL | 🇩🇪 Germany | Applications | -€50M | ||
| Silo AI | 🇫🇮 Finland | Applications | * | * | -€30M |
| Dust | 🇫🇷 France | Applications | * | * | -€27M |
| Photoroom | 🇫🇷 France | Applications | * | * | -€20M |
| ASML (IA-attribuable) | 🇳🇱 Netherlands | Semiconductors / Equipment | €400M |
* Estimated (médian)
Methodology & sources
How the figures are built
Each figure is an estimate built from public sources (funding rounds, press releases, filings, business press, sector estimates). We always show: the range (min–median–max), the confidence level, the period and the sources. It is one honest best estimate, not a financial audit.
Confidence levels
- High — public or cross-checked figures.
- Medium — estimate from several signals.
- Low — extrapolation, single source.
Why a European edition?
The AI profitability debate is dominated by US giants. This edition measures the European Union ecosystem and enables a per-country focus, plus a “sovereignty” lens.
EU-27 or wider Europe?
The default scope is EU-27. The “wider Europe” toggle adds non-EU countries (UK, Switzerland) for context, always flagged and never mixed into the EU aggregate.
Export Tracker Dataset
Download consolidated estimates in JSON or CSV format under an open database license for your own analysis.