It may be too late to replicate hyperscalers, but it is not too late to achieve technological sovereignty in some critical technology areas

President Ursula von der Leyen
My Agenda for Europe: Political Guidelines for the Next European Commission 2019-2024

For the European Union it is essential to build smart technological foundations for how data will be generated, stored, searched, analysed, processed, accessed, shared and exchanged to the benefits of the European economy, its businesses, public entities and communities. The need to strategically invest in the next generation of European cloud and edge capacities has been emphasised on several occasions such as in the European Strategy for Data, in the EU Flagship area “Scale up” under the Recovery and Resilience Facility, and in the Member States’ Joint Declaration on Building the Next Generation Cloud in Europe of 15 October 2020.

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https://oneedge.io/european-open-source-for-edge-computing/