AI giants are expanding their business structures beyond the US, with Madrid emerging as a key hub in Spain. On June 11, OpenAI announced the opening of an office in Madrid, one of its top five markets in Europe, the Middle East, and Africa, with major clients like BBVA and IE University. Carles Reina, Go To Market leader at Elevenlabs, stated, "large Spanish companies are moving at a speed that is not happening in the US or the UK," prompting the company to invest more in the market. Elevenlabs, founded in 2022 and now valued at over 11 billion dollars, counts Banco Santander and Telefónica among its clients and investors. Databricks has been expanding its team for two years from a coworking space on Paseo de la Castellana, while Mistral has begun deploying its first engineers in Spain. The typical expansion playbook involves securing first clients, generally Ibex companies, before physically landing, then hunting for native talent to open a small office with between 10 and 20 employees. ElevenLabs started with 14 employees.