French President Emmanuel Macron, in an interview with CNBC, expressed concerns about the growing dominance of Big Tech companies and their potential impact on European innovation. While acknowledging the role of mergers and acquisitions in the business world, he emphasised the need for greater European tech independence.

Macron lamented Europe’s lag behind the US in terms of tech innovation and economic growth over the past three decades, attributing the disparity to “the lack of innovation and diffusion of innovation, especially in the tech sector.” He celebrated the success of homegrown companies like Mistral AI, which has partnered with Microsoft, but expressed a preference for these companies to “become independent and to grow on their own.”

Macron’s comments come at a time when Big Tech companies are increasingly acquiring promising European tech startups. When asked about a hypothetical scenario involving Microsoft acquiring Mistral AI, Macron stated that “it’s not automatically good news and I would prefer them to become independent and to grow on their own.” He warned against a future where the tech landscape is dominated solely by Chinese and American giants, stressing the need for “much more European big players.”

Macron believes that unchecked Big Tech acquisitions could stifle innovation in Europe. He stated that “counter innovation M&A,” where companies acquire startups primarily to absorb their technology and talent, could hinder the development of a “very vivid, vibrant, and ambitious European ecosystem.”

Macron’s comments reflect his vision of a Europe that is not just a consumer of tech, but also a producer of groundbreaking innovations. He stressed the importance of fostering a “Choose France” environment that encourages homegrown talent and investment, aiming to create an ecosystem where European companies can flourish independently, competing on a global stage with established tech giants.