US tech giants warn Europe that ditching US tech giants could cost €115B

Some of America's biggest tech companies have a warning for Europe: curb your reliance on US cloud providers, and it could cost you €115 billion. That's the finding of a new study commissioned by CCIA Europe, a lobbying group whose members include Amazon, Google, and Meta, companies that have plenty of reasons to want European governments to keep buying American cloud services. The research, conducted by the European Centre for International Political Economy (ECIPE), claims the European Commission's proposed Cloud and AI Development Act (CADA) could saddle Europe with €115 billion in costs over the next decade, more than six times the Commission's upper estimate of €18 billion. The report argues that restrictions favoring European cloud providers would leave governments and businesses facing hefty bills to migrate workloads and rewrite software. It puts direct public-sector costs at €33.3 billion, with a further €80 billion potentially falling on private companies in sectors including banking, healthcare, energy, and transport. …