If the EU funds go only towards EU companies, the bureaucrats will have no choice but to say "oh well, we tried but the funds would have been lost otherwise, Bruxelles is to blame". The EU company could still resell US services but the EC could still put in a provision that at least % should be domestic. One thing is absolutely clear: the French will build their own infra and services with their own money, obviously en Français. Wait, they already have done so.