It's not just geographic regions around the globe.
It is also the wide array of services -- well integrated into their primitives of security, authentication, governance, monitoring and logging, etc
Is there a EU cloud provider that provides -- even if limited to EU geography -- the equivalent of Blob Storage + Azure Data Lake Storage + Azure Data Factory or Fabric + Microsoft Foundry with native access to OpenAI and Anthropic models?
How about not limiting yourself to specific services? If you've built your product around specific cloud providers services then that is the problem not the fact that there aren't alternatives to those seevices.
You don't need to tick all boxes from a cloud vendor.
Boring technology goes a long way.
You can get all of that in the EU via scaleway, Ionos etc. for example.
I don't know what you mean by native access to frontier models. Who has native access to these frontier models?
Having used both worlds: a lot of the provided features come with strong vendor lock-in, and in most cases that not, with slightly stronger “local” engineering you can reach the same targets and needs locally.
The more I work (started coding 40 years ago, and data engineering 25 years ago), the more I favor designs that are less coupled to cloud features.
If you do so, the offering in the EU just as it is now is well enough to scale.
In short: more computer science, less delegating to cloud operators, stronger designs.