EU is considering new rules to restrict member nations from using US cloud providers to handle sensitive data, CNBC reports citing sources

The EU's consideration of new rules to limit member nations from utilizing US cloud providers for sensitive data handling could introduce significant regulatory hurdles for companies like Amazon and Google. This move may not only affect their operations and market positioning within the EU but also signal a broader trend toward data sovereignty that strengthens regional players. Investors should watch for impacts on affected firms, as well as potential shifts in competitive dynamics and compliance costs.