AI and cloud are another thing altogether. Mistral is alright, open-source AI models are alright, but overall I think they can't compete yet. And I don't think there are fully capable cloud alternatives to AWS, Azure and Google Cloud yet. EU pushing Nextcloud-based alternatives really doesn't fuel confidence honestly. I mean Nextcloud is fine, but that's not the big alternative push we need here.
Governments properly mandating that data be held in the EU, or even in orgs with proper EU entities and checks and balances against US interference in time of conflict would change the game. This is what the EU should be working on... a data residency regime that allows us to use AWS but creates a firewall that allows us to take operational control of the servers if the US continues on it's current path.