Publications

Digital sovereignty is a fundamental trend

In Swissquote Magazine’s feature on European digital sovereignty, Eunice Harbeke, Investment Advisor at Banque Heritage, shares her view on this investment theme.

Demand is no longer in doubt

Tensions with the US administration have reminded Europe of its dependence on American tech giants. For Eunice Harbeke, digital sovereignty is a structural trend, driven by European regulation, geopolitical risks, growing cybersecurity needs and the rise of artificial intelligence.

Demand is already growing. According to IDC, 40% of European organisations were using sovereign cloud in 2025, and a further 31% were considering adopting it. The real challenge is whether European players can keep up with the American hyperscalers.

A long-term case, to be approached selectively

The investment case is convincing in the long term. In the short term, it calls for patience: these companies still have to prove themselves, some valuations need to be watched closely, and they remain much smaller than the American giants. Things are starting to change, however. “For customers, sovereignty has already become a buying criterion, but not yet a valuation argument for investors. Those who position themselves early could stand to gain”.

👉 Read the full feature.

This content does not constitute investment advice.

November 03, 2026

Publications

CIO Letter - October 2026

Rate noise, solid fundamentals

October 13, 2026

Publications

CIO Letter - September 2026

When Higher Rates Become a Policy Risk

September 16, 2026

Publications

Letter From the CIO - August 2026

Good Companies, Good Investments?

August 18, 2026