LIDL the supermarket chain is German and is running a large cloud operation inside the EU. And OVH from France is also pretty big.
You’re correct that few EU companies get as large as US monopolies, but that’s kind of the goal when you want a functioning market.
You probably mean Schwarz Gruppe, the owner of Lidl, and their subsidiary StackIT. Yes, they are growing. Schwarz is also building 11B€ AI data center in Lubbenau, so I fully agree with you. We will be fine without American digital services.
It’s going to take time though… and the StackIT PaaS offerings aren’t yet quite as easy to use as their US competitors
A "functioning market" doesn't prevent oligopolies. Oligopolies are natural and optimal (desirable) in many industries, if not most. That's where regulations come in.