That's another problem with the idea of tech sovereignity. Anything succesful, even if it started in Europe, will go global, including literally going to the USA
If the political regime in the US continues, that will come to an end. You can see it happening already - London has been a big beneficiary of Trump’s agenda.
Used to be much more distributed before WWII, or even before the dotcom boom. SV looks like an unstoppable vortex for everything high tech, to the point it becomes a security risk for everyone else
Basically every company has American investors. But for Mistral, ASML is the biggest, I think, and the french founders also still hold significant amounts.
And Black Forest labs is still headquartered in Freiburg, Germany. They just have a lab in SF.
That's why the European way to tech sovereignty is (publicly-funded) free software. Cannot be bought by unlimited VC money from The Valley, and it benefits the rest of the world, which is a tiny drop, and hence a necessary one, in Europe offsetting the damages of colonization, past and present.
Can you explain how you mean this? Obviously, it helps if the knowledge of the codebase is with a trusted partner. But taking as an example Grist (https://getgrist.org), which is developed by a NY-based US company and is part of the French La suite numérique (LSN). Should a geopolitical reason get in the way of Grist devs further collaborating with LSN, don't you think that France's sovereignty is safeguarded by the availability of the code?
Granted, it'd be a setback. But nothing a couple of dedicated French devs could not tackle.