The newfound desire to move away from American cloud providers isn’t related to pricing, it’s about the perception of growing instability within the American government, the perception of deteriorating freedom of speech, and the perception of an increasingly non-neutral business environment.

E.g., if I’m running a business in the US and I don’t kiss Trump’s ring (and pay bribes), if he becomes dictator for life in 2028, all bets are off for my business.

Both the EU and USA import the majority of their computer equipment, and the USA is placing heavy and unpredictable tariffs on those goods. It’s hard to argue that a business should bet that data centers will be cheaper in the US than in the EU if Trump is the last democratically elected president.

The most stable places to do business in 2026 are probably the EU and China.