The European Union's AI Act is poised to significantly influence the development and application of open-source AI within the region. Experts and commentators highlight the Act's potential to not only foster research and development on more capable AI models but also to advance other crucial metrics such as explainability, bias, safety, and efficiency. The legislation represents the EU's initial steps towards responsible AI usage and development, underscoring the critical role open source is expected to play in this new regulatory and economic landscape. The growing adoption of AI, along with economic shifts and new regulations, marks a pivotal juncture for society, where open source is anticipated to be a key player.