According to tech investor Eric Schmidt, Europe faces a critical crossroads in the AI race. Without substantial investment in homegrown open source AI labs, the continent risks becoming locked into dependency on Chinese AI models. The challenge isn't just about tech innovation—energy costs are equally crucial. Soaring electricity prices make it harder for European startups and research institutions to train and run large language models competitively. Schmidt's warning cuts to the heart of a broader issue: nations that can't sustain the computational infrastructure and energy efficiency needed for AI development will inevitably fall behind. For the Web3 and blockchain communities watching this unfold, the implications are significant. Decentralized compute networks and energy-efficient protocols could become key differentiators in who controls the AI narrative globally.