I doubt it’s the end of AI access in Europe. Even if they do fine them 3% of global turnover, that’s probably a small enough fraction of their European revenue that it’s worth the risk. After all if they drop European traffic it’s not like it’ll change their fixed costs, and the marginal cost to serve Europe is probably relatively small compared to their fixed costs.

I do think it’s most likely that they will end up fining the AI companies quite a bit under this act. It seems like a bit of a pattern with European legislation that disproportionately impacts American tech companies.

Frustrating for EU companies trying to stay competitive globally.

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Europe on another money grubbing fishing expedition on US corporations.

Claude slop article aside, this act is one reason why some people say Europe is an open air museum, as it'd rather regulate itself to obscurity while its great works are behind it. Where is Mistral, Le Chaton Fat? They're not competitive anymore. Meanwhile China reaches ever forward because they know that speed and endurance is everything in a race, not shooting oneself in the foot.