Forward

Artificial intelligence (AI) is reshaping the digital economy. Rapid developments are already transforming multiple markets. One striking example is the multi-year, multi-billion-dollar strategic infrastructure partnerships between OpenAI and the two leading chip manufacturers, Nvidia and AMD, and the networking equipment manufacturer, Broadcom, to build gigawatts of AI infrastructure. Given the scale of these investments and OpenAI’s growing importance in the provision of AI services, they are likely to impact the cloud computing market.

In parallel, the rise of the agentic web is enabling AI agents to interact with other agents and online content to perform tasks on users’ behalf. This shift is driving major changes in the web browser market, where browsers are expected to play a pivotal role in orchestrating interactions between users, AI agents, and online services.

Regulators are closely monitoring to keep pace. In the UK, the Digital Regulation Cooperation Forum (DRCF)—which brings together the competition, data protection, telecom, and financial authorities—is examining AI agents as part of its new Thematic Hub, with the aim of providing coordinated regulatory guidance for businesses. In addition, the UK’s first designation under its new digital competition regime, covering Google Search and Google Search Advertising, explicitly captures Google AI features, such as the recently launched AI Overviews and AI Mode.

Meanwhile, digital competition regimes themselves continue to evolve. In Europe, the European Data Protection Board (EDPB) and the Commission have issued joint guidelines on the interaction between the Digital Markets Act (DMA) and the General Data Protection Regulation (GDPR). These guidelines could affect how designated platforms under the DMA collect and use personal data when providing AI services. Beyond Europe, Brazil and New Zealand are both considering the adoption of dedicated digital competition regimes.

If you are around, I would be glad to connect with you in Brussels (Belgium) between 28 and 30 October, Brasilia (Brazil) between 4 and 5 November, and Budapest (Hungary) between 19 and 20 November to discuss digital competition!

My Work

Analysis: A New Browser War for the Agentic Web

The browser war drives intense competition to develop agentic browsing features capable of performing tasks. During this period, competition authorities should closely monitor AI market dynamics and assess agentic browsing and its economic impact. The analysis

Submission: Digital Competition’s Submission to the Commission Public Consultation on the Digital Markets Act Review

Reviewing the Digital Markets Act’s implementation as of July 2025, the submission highlights designation imbalances, warns against premature scope expansion, and calls for clearer compliance guidance and deeper cooperation with national authorities. I am available to discuss and present the report to the Commission, interested competition authorities, and third parties. The submission

Outlook: Digital Competition Outlook 2025/2026

This Outlook is designed to help government agencies, tech companies, and law firms prepare and navigate these new and complex issues. The year 2025-2026 will be pivotal in four priority areas: artificial intelligence (AI), digital competition regimes, digital mergers, and competitiveness. The outlook

Report: Europe’s Progress in the Digital Single Market: A Proposal for Consistency

European digital regulations shape the Digital Single Market, raising complex issues of regulatory consistency. This report assesses and proposes recommendations to ensure coherence across countries, regulatory regimes, and the rule-making process. The report

New service: Regulatory intelligence

I now offer in-depth analysis of the latest market and regulatory developments in digital and competition policies, providing actionable insights tailored to your specific needs. Delivered monthly, so you can anticipate emerging issues before they become risks. The service

Research projects: Let’s work together

News

Generative AI

OpenAI–Nvidia and OpenAI–AMD and OpenAI-Broadcom Infrastructure Partnerships

OpenAI has entered into two major multi-year, multi-billion-dollar strategic infrastructure partnerships with Nvidia, AMD, and Broadcom to build its own AI infrastructure (read: building AI data centers). Nvidia plans to invest up to $100 billion to deploy 10 gigawatts of AI infrastructure using its chips. According to the press release, “OpenAI will work with NVIDIA as a preferred strategic compute and networking partner for its AI factory growth plans.” As Reuters noted, this could raise competition concerns if Nvidia gives OpenAI preferential terms, such as access and price, to its chips.

Similarly, AMD will deploy 6 gigawatts of AI infrastructure with AMD chips.

Finally, Broadcom will deploy 10 gigawatts of OpenAI-designed AI accelerators. Given the scale of the investments and OpenAI’s central role in the AI market, both deals are likely to influence the cloud computing landscape. 

Remember the Microsoft/OpenAI partnership? OpenAI/Nvidia deal. OpenAI/AMD. OpenAI/Broadcom. Reuters

Google Chrome Integrates AI Features

Google is integrating AI capabilities directly into its Chrome browser to prepare for the rise of the agentic web. As I noted in my analysis on the browser war, we are entering a new phase of the web where AI agents—not humans—will increasingly interact with online content. Web browsers will orchestrate these agentic interactions across agents and online services. This shift will transform both the economics of the web and competition in the browser market. Google. My analysis

UK Regulators Study AI Agents

The UK’s Digital Regulation Cooperation Forum (DRCF)—which brings together the competition, data protection, telecom, and financial authorities—is seeking views on AI agents until 6 November. The consultation forms part of the new DRCF Thematic Hub, a cross-cutting initiative aimed at providing businesses with coherent regulatory insight on emerging technologies. I am closely following this work and available to provide research and strategic advice on AI agents. The DRCF Thematic Hub. The Call for Views

Digital Competition Regimes

First Joint Guidelines on the EU DMA and GDPR

The European Data Protection Board (EDPB) and the European Commission have issued the first joint guidelines on the interaction between the Digital Markets Act (DMA) and the General Data Protection Regulation (GDPR). The text clarifies how DMA  personal data-related provisions intersect with GDPR requirements, such as the prohibition on combining personal data without user consent (Article 5(2) DMA). It also sets out how the Commission and the EDPB will cooperate on cross-regulatory matters. The consultation of the guidelines is open until 4 December. I am actively working on this topic and am available to contribute to a research project exploring how the DMA and GDPR interactions will shape AI development in Europe. The joint guidelines 

Google Designated Under the UK DMCCA

The UK Competition and Markets Authority (CMA) has designated Google Search and Google Search Advertising under the Digital Markets, Competition and Consumers Act (DMCCA). Notably, the CMA included Google AI features, such as AI Overviews and AI Mode, within scope, while excluding the Gemini Assistant for now. This is the first digital competition regime to explicitly capture AI services, at a time of fast-moving market developments and parallel regulatory debates overseas. Indeed, AI is also discussed in the context of the DMA review. The CMA’s next step is to propose conduct requirements for the designated services. Google has publicly claimed that the intervention could negatively impact innovation and pricing. The designation. Google

Brazil Proposes a Digital Competition Regime

Brazil is proposing a digital competition regime modelled on the UK approach. The Brazilian competition authority would be able to designate large online platforms based on qualitative and quantitative criteria and impose obligations such as interoperability requirements. I will be in Brasília on 4 November to discuss digital competition regimes. If you are around, I would be glad to connect with local associations, policymakers, and the competition authority to share European and UK experiences. The proposed regime

New Zealand Considers a Digital Competition Regime

The New Zealand government is considering reforms to its competition framework that would introduce, among other things, targeted pro-competition rules aimed at dominant digital firms. Possible measures include interoperability and data portability requirements. The consideration

Competition

Microsoft Commitments on Microsoft Teams Accepted by the Commission

The Commission has accepted commitments from Microsoft to close its antitrust investigation into the alleged tying of Microsoft Teams with Microsoft 365. Microsoft will offer a version of Office without Teams at a different price and will provide interoperability with rival videoconferencing services. The commitment

Commission Workshops on Revised Merger Guidelines

The Commission is organising two interactive workshops on its proposed revised merger guidelines, structured around expert sessions. They will be held in Brussels on 4 December 2025 and 20 January 2026. I am available to provide research support for the sessions. Registration