In a move that could potentially impact tech giants like Amazon Inc.
(NASDAQ:AMZN), Microsoft Corp.
(NASDAQ:MSFT), and Alphabet Inc.'s Google (NASDAQ:GOOGL), the European Union (EU) is reportedly planning to propose stringent criteria for cloud computing services in significant state tenders.
The EU's proposal, part of the European Commission's Cloud and AI Development Act, is set to be unveiled by EU tech chief Henna Virkkunen.
The Act aims to reduce the bloc's dependence on U.S. tech and strengthen EU businesses, reported Reuters on Tuesday, citing a draft document.
