The European Union is under pressure to strengthen its digital presence, as tensions with the US have reached a new low. Weaning itself off reliance on US-based technology companies could come at a significant cost.
Currently, over 70% of European data is stored on US cloud services, with major players like Amazon, Microsoft, and Google dominating the market. Europe’s microchip industry accounts for only 10% of the global market, while US-based firms like OpenAI and Anthropic are leading the artificial intelligence revolution.
Source: https://www.politico.eu/article/push-for-eurostack-as-eu-us-tech-tensions-grow