Talk about a day late and a dollar short - Elvis has left the country.....
The opportunity to build a EU hyperscaler has been and gone. There is zero chance of them being competitive with Oracle and Ali let alone the big 3.
They would be better off
bribing approaching MS or AWS or GCP (please no) to set up a duplicate ownership model in the EU. License the technology from the Mothership but total network and company segregation from it. Like Gov.cloud but EU.Cloud.