The Russian revolutionary Vladimir Lenin once declared that communism was Soviet power plus the electrification of the whole country. These days capitalism seems to mean AI power plus the electrification of the whole world.

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January 19, 2026
European AI has a power problem
High energy prices will make it difficult for the region to compete long-term
4 min read
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John Thornhill is Sifted’s founder and innovation editor of the Financial Times. He tweets from @johnthornhillft

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