Earlier quoted context omitted.
It's just a front for Bing. The company is pure hype, no results.
It's a bit more than just hype: it's rebranding Bing results to make them more palatable to a EU audience, while guzzling on public subsidies to pretend it's a EU unicorn and gather support from nationalists. There are actual results - as a public subsidies scam!
This seems like a weird accusation given that government VC arms like In-Q-Tel or institutions like DARPA invest heavily in Silicon Valley tech firms, not to mention that the national science foundation supported the development of pagerank itself[1]. One of Apple's first investors was the Small Business Investment Company, an investment arm of the federal government. The EU would be stupid to not support the development of an independent technology sector.
[1]https://www.nsf.gov/discoveries/disc_summ.jsp?cntn_id=100660