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At the same time EU needs to be very careful not to end up with something like "we build our own hardware just to build out own hardware", like Russia did with their Elbrus family of processors that are ~10 years behind the state of the art. They at least found their niche in the military sector.
Or for that matter, like EU did in 2000's when it spent millions on Quaero search engine whose main purpose was to be anti-Google https://en.wikipedia.org/wiki/Quaero