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Race for Compute

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We live in an age of absolute abundance. With a few taps, a swipe, or a voice command, an endless river of videos, podcasts, articles, and social media posts pours into our consciousness. And yet, there is a strange paradox at the heart of this digital cornucopia:

Entertainment should not be a void you fall into. It should be a door you choose to walk through — one that leads somewhere worth going. Open For Me -Zero Tolerance Films- 2024 XXX 720...

Close the door. Walk away. Go find something real. What do you think? Have you noticed the rise of “zero entertainment content” in your own media diet? Drop a comment below — if you’ve made it this far, you’re clearly not part of the problem. We live in an age of absolute abundance

So next time your screen lights up with another algorithmic suggestion, another reaction to a reaction, another listicle promising secrets that are not secrets… pause. It should be a door you choose to

Traditional media was judged by ratings, box office, and critical reviews. Modern popular media is judged by minutes watched, engagement rate, and scroll velocity. A controversial but empty tweet generates more “engagement” than a thoughtful essay. A video that makes you mildly annoyed keeps you watching longer than one that makes you deeply happy. The algorithm doesn’t reward quality; it rewards retention . And nothing retains attention like the promise of a payoff that never comes.

At a Glance

“Super Six” companies now account for about 50% of the Nasdaq Composite’s market cap.
New world of AI models and native apps drives record venture funding levels, with 2025 set to hit $184B.
While the U.S. continues to dominate the model race, our analysis shows that Europe and Israel are competing at the application layer.
The outlook looks positive for the software landscape, with Accel’s Globalscape Public Cloud Index growing 25% year-over-year.
The $4 trillion investment in data centers grabs headlines, but it is less than the $5.5 trillion of operating cash flows that the hyperscalers will generate over the same period – and it would be justified by only a 1-2% increase in the global GDP CAGR 2026-30
To see all analysis, predictions, and winners, download the full report.
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We are witnessing a tectonic shift, with AI accelerating innovation across the globe and unprecedented growth in AI native applications and enterprise agentic workflows. This shift will require an estimated $4 trillion investment in computing data centers over the next five years.

Philippe Botteri|Accel

About the Report

Back in 2016, it was clear that traction in Europe's cloud ecosystem had started accelerating. Crystalising this momentum, the Accel team launched Euroscape, an in-depth report on the European and Israeli cloud ecosystem that examined key trends and included a list of the top cloud and SaaS startups to watch across the region.
As AI redefines the way applications and software will be written and drives a new industrial revolution globally, Euroscape has now evolved into Globalscape. Today, recognizing the report's wider scope, we’ve added a new list of 100 U.S. cloud and AI startups to watch. While Europe, Israel and the U.S. are the key regions covered in the report, the Accel team aspires to expand the regions covered in the report in the future.

Race for Compute

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Previous Reports

Accel’s Euroscape report launched in 2016 when Europe’s cloud ecosystem started accelerating and has been published annually since then. Read previous reports below.