French IT services company listed in Paris, emerging from a major financial restructuring (Genesis plan). Since April 2026, Atos is no longer present in HPC: its Bull subsidiary (BullSequana, quantum, AI advanced computing) was sold to the French State for €404M. The remaining perimeter now centers on Eviden — cybersecurity, vision AI, mission-critical systems — around €300M in pro-forma revenue.
Today's Atos is not the one in the Jimini sheet. The Bull divestment to the French State structurally changes the thesis: what was a "European HPC sovereignty" play has become a cyber/mission-critical IT services exposure in transformation mode. Eviden retains critical contracts (defense, public sector, healthcare), but the historical data center / supercomputer narrative leaves with Bull. The sale proceeds (€404M) materially reduce debt and free up capital for the Genesis plan, but the operational trajectory still has to be validated quarter by quarter.
Exposure to European digital sovereignty but on a now-narrower perimeter. The "HPC player" narrative has been obsolete since April 2026. Turnaround profile with execution risk, to be handled cautiously and with a long horizon. For the sovereign HPC bet, the entity to watch is now Bull (private), no longer Atos.
Everything you need to know about NeonBridge and the compute economy.
Oil powered the 20th century. Compute powers the 21st. Every time an AI model runs or a Bitcoin block is mined, it takes energy, chips, data centers, and cloud infrastructure to make it happen. The companies building all of that form the compute economy. NeonBridge tracks 200+ of them across 7 categories.
Just like oil or electricity, compute is a raw resource that every industry needs. AI models can't train without GPU cycles. Bitcoin can't exist without hashrate. As demand grows, the companies that produce, store, and distribute compute become critical infrastructure. That makes compute the defining commodity of this century.
AI and Bitcoin are not two separate topics. They are two expressions of the same industrial revolution. AI transforms compute into intelligence. Bitcoin transforms compute into verifiable scarcity. Both need the same physical foundations: energy, chips, and data centers. That is why NeonBridge tracks them together, as one economy.
Most companies in the tracker are publicly listed stocks you can buy through any brokerage account. We highlight EU-friendly brokers like Trade Republic, Interactive Brokers, DEGIRO, and Scalable Capital to help you get started. No crypto wallet needed for the equity side.
Like any sector, compute infrastructure carries risk. Chip supply chains can be disrupted by geopolitics. Energy costs fluctuate. AI regulation is evolving fast. Bitcoin mining profitability depends on network difficulty and price cycles. Diversifying across the 7 categories of the compute economy helps reduce exposure to any single risk.
Global AI compute capacity doubles every 6-7 months, fueled by explosive AI adoption outpacing historical trends, with contributions from Bitcoin mining infrastructure repurposing and autonomous systems. Governments worldwide have committed hundreds of billions to chip manufacturing and power infrastructure. This reflects an enduring industrial shift comparable to electrification.
