If I was an investor I'd be very worried, to say the least. These guys had all the chances to be established across the relevant LLM players and are blowing it at this very moment....remarkable.
With all the attention on and hunger for "sovereignty" one would think they would be the ones capitalizing the most....nope, not at all
Why do you think, is it lack of capital available in Europe ? Over regulation ? Simply a vision problem ?
In this case, bad execution above all