Draghi and Stripe CEO launch Rhine Group to tackle Europe's AI and competitiveness gaps
Mario Draghi and Stripe co-founder Patrick Collison have founded the Rhine Group, a coalition of business and academic leaders aimed at turning Draghi’s bleak competitiveness report into concrete action.
In response to a September 2024 report commissioned by European Commission President Ursula von der Leyen, Mario Draghi and Stripe chief Patrick Collison have created the Rhine Group, a cross-sector alliance of roughly 55 leaders. The report warned that Europe’s growth model is hampered by low productivity, a fragmented market, costly energy, and weak defence and AI capabilities, calling for €750-€800 billion of new yearly investment.
The Rhine Group’s first gathering, scheduled for 20-23 September, will devise ways to mobilise capital, simplify regulations, and build the physical infrastructure—chips, data centres, and power grids—needed for AI. It also stresses the importance of model neutrality, data sovereignty, and retaining European-built AI talent, citing DeepMind’s sale to Google as a cautionary tale. By coordinating policy, funding, and technology, the group aims to give Europe the scale and autonomy required to compete globally.
