Europe has been sinking relatively to the US for a long time. Europe stalled when the global financial crisis hit in 2008 and never recovered. GDP of Eurozone was about the same as the US's in 2008, now the US's is almost double the Eurozone's.
Real GDP growth from the 2008 peak to today has been a bit under 15% for the Eurozone and a bit under 35% for the US. The difference comes mostly from the lack of growth in the early 2010s due to the debt crisis and from the impact of the war in Ukraine.
- Tech Giants and concentration of global profits, don't look at revenue look at profits - demographics, Europe is now loosing workers every year - deficit spending, Europe has spent comparatively litte compared to the US - energy and Russia, a much bigger burden in Europe