American companies are driving global economy insane. Currently the American political administration sides with the AI companies since it gives the inspiration that the economy is doing well. If things start to go side ways, the US government can put pressure on its local companies like Micron to supply other fields.

Europe doesn't have local manufacturers. So it cannot exert control over the manufacturers to keep its internal / strategic market sane. All European hardware manufacturers have to put up with and compete in irrationality inflated prices.