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Greece Strikes Deal with OpenAI to Bring AI into Classrooms and Small Businesses

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Greece and OpenAI signed a memorandum of understanding (MoU) on Friday aimed at expanding access to artificial intelligence in schools and boosting innovation for small businesses. The agreement makes Greece one of the first countries to deploy ChatGPT Edu, a specialized version of ChatGPT tailored for academic institutions.

According to OpenAI, the deal will give Greek secondary schools direct access to advanced AI tools, while startups in healthcare, climate change, education, and the public sector will receive credits and support to build projects with OpenAI’s technology.

The MoU was signed by Prime Minister Kyriakos Mitsotakis, Onassis Foundation President Anthony S. Papadimitriou, and OpenAI’s Chief Global Affairs Officer Chris Lehane. In his remarks, Lehane tied the initiative to Greece’s intellectual heritage: “From Plato’s Academy to Aristotle’s Lyceum—Greece is the historical birthplace of western education. Today, with millions of Greeks using ChatGPT, the country is once again showing its dedication to learning and ideas.”

The deal comes just weeks after OpenAI released GPT-5, its latest model, which is powering the next phase of ChatGPT’s global adoption across education, business, and cultural applications.

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European AI Adopter Stocks Slide as Powerful New Models Spark Investor Caution

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Shares of European companies investing heavily in artificial intelligence have faced a sharp selloff this week, as the emergence of more advanced AI models raises concerns about potential disruption across software, data analytics, and financial services sectors.

European software stocks, including Germany’s SAP (SAPG.DE) and France’s Dassault Systèmes (DAST.PA), fell sharply on Tuesday following a downgrade of U.S. rival Adobe (ADBE.O) by broker Melius Research. Since mid-July, shares in London Stock Exchange Group (LSEG.L), UK software firm Sage (SGE.L), and French IT consulting company Capgemini (CAPP.PA) have dropped 14.4%, 10.8%, and 12.3%, respectively.

These companies—often labeled AI adopters—have invested heavily in AI to enhance products and services, attracting investor interest amid a shortage of European AI suppliers. However, the release of more powerful AI models, such as OpenAI’s GPT-5 and Anthropic’s Claude for Financial Services, has prompted a reassessment of their long-term competitiveness. Kunal Kothari of Aviva Investors noted that each new AI iteration challenges the business models of data providers like LSEG.

While the broader European markets have posted modest gains—FTSE 100 up 2.5% and STOXX 600 up 0.6% since mid-July—high valuations have made AI adopter stocks particularly vulnerable. SAP trades at around 45 times earnings, compared with a STOXX 600 average of 17.

Investors are debating whether AI will “eat software,” as Nvidia CEO Jensen Huang famously predicted. Analysts caution that not all software companies are equally exposed. Firms with deeply embedded enterprise applications or proprietary data may retain a competitive edge. For example, UK credit data company Experian (EXPN.L) and Sage benefit from extensive integration into client workflows, making them less vulnerable to disruption.

Some experts view the selloff as a buying opportunity, noting that affected companies could leverage AI to boost earnings over time. However, market watchers warn that proving tangible returns from AI investments may be a race against the clock for major European software players.