EU Launches Tech Sovereignty Package as €200 Billion Cloud Market Stays 70% in US Hands
Updated
Updated · Financial Times · Jun 13
EU Launches Tech Sovereignty Package as €200 Billion Cloud Market Stays 70% in US Hands
3 articles · Updated · Financial Times · Jun 13
Summary
The package centers on practical targets rather than creating a European Microsoft, aiming to add data centers and widen cloud competition across the bloc.
Around €200 billion in EU cloud spending is projected by 2028, with roughly 70% still flowing to Amazon, Alphabet and Microsoft, underscoring the scale of dependence Brussels wants to cut.
European providers could still gain from small share shifts: OVHcloud, valued at €2.4 billion, would see annual revenue double if it captured just 1% of hyperscalers’ European sales.
US groups are already adapting through local partnerships with SAP, Capgemini, Orange and Thales, while Europe also leans on outside capital such as SoftBank’s €75 billion French data-center project.
The bigger constraint is financing and scale: fragmented capital markets and limits on consolidation leave Europe far behind US rivals, with Alphabet’s planned $190 billion capex this year enough to buy Orange twice.