The Web Summit, one of Europe's largest technology conferences, opened its doors in Lisbon on Monday, drawing thousands of founders, investors, and policymakers to the Altice Arena. This year's edition puts robotics and AI agents at the centre of the agenda, with startups and established players alike showcasing machines that can navigate warehouses, assist in surgery, and handle customer service queries with minimal human oversight.
But the buzz of product launches was tempered by news from Brussels: the European Commission has opened a formal investigation into Nvidia's business practices, focusing on suspected anti-competitive behaviour in the AI chip market. The probe, confirmed on the eve of the summit, examines whether Nvidia's bundling of software with its hardware unfairly locks out rivals. It marks the latest escalation in the EU's scrutiny of Big Tech, following similar cases against Google, Apple, and Meta.
Robots take the stage
On the exhibition floor, humanoid robots from European startups such as France's Aldebaran and Germany's Neura Robotics drew long queues. A new generation of AI agents—software that can plan and execute tasks autonomously—was equally prominent. Estonian firm Skeleton Technologies demonstrated an AI-driven energy management system that optimises power use in real time, a nod to the continent's push for digital and green transitions.
Portuguese Prime Minister Luís Montenegro opened the summit with a speech celebrating Lisbon's rise as a tech hub. "Europe must lead in innovation, not just regulate it," he said, urging a balanced approach between fostering startups and protecting consumers. His remarks echoed a recurring theme at the event: how the EU can compete with the US and China without sacrificing its regulatory values.
The Nvidia investigation, however, casts a shadow over that ambition. The Commission's preliminary concerns centre on the company's dominant position in graphics processing units (GPUs), which are essential for training large AI models. If the probe leads to formal charges, Nvidia could face fines of up to 10% of its global turnover, a scenario that would send ripples through the entire AI supply chain.
Industry analysts at the summit were divided. Some argued that the EU's aggressive stance could deter investment, while others welcomed it as necessary to ensure a level playing field. "Regulation is not the enemy of innovation," said Margrethe Vestager, the EU's competition chief, in a panel discussion. "It is the framework that makes innovation sustainable."
Beyond the main stage, side events tackled everything from AI ethics to the future of work. A session on "AI agents in the enterprise" drew particular interest, with speakers from SAP and Siemens discussing how these systems are already transforming manufacturing and logistics. Meanwhile, a startup pitch competition featured 50 finalists from 20 countries, including several from the Balkans and the Baltics, underscoring the summit's pan-European reach.
The event also served as a backdrop for policy announcements. The European Commission used the occasion to unveil a new "AI Skills Alliance" aimed at training one million Europeans in AI-related fields by 2030. The initiative, backed by €200 million in funding, is part of the bloc's broader digital decade goals.
As the first day wound down, attendees headed to networking parties across the city, from the LX Factory to the riverside docks. But the conversation kept returning to the Nvidia probe. "It's a pivotal moment," said one venture capitalist from Berlin. "How the EU handles this case will shape the next decade of AI development in Europe."
For now, Lisbon remains the epicentre of Europe's tech optimism, even as regulators sharpen their pencils. The summit runs until Thursday, with keynotes from figures like Ursula von der Leyen and OpenAI's Sam Altman still to come. Whether the mood stays buoyant will depend on how the Nvidia story unfolds—and whether Europe can turn its regulatory muscle into a competitive advantage.
