Comment by eigenspace

Even assuming this is true, EU cloud providers no longer have to compete with their American counterparts on an even footing thanks to the insanity coming out of the White House (and American society more generally). There's a very big push to get off of American providers, and many (though not all) customers are willing to make sacrifices to do so.

If providers like OVH play their cards right, they can use this sudden influx of cash to both scale up, and improve their offerings. There's a lot of money on the table right now.