The EuroHPC regulation sets requirements for the ownership, operation, and access of AI gigafactories through the Hosting Agreement (Article 12b). But legislation alone is not enough — structure is needed. Without the right ownership structure, strategic assets can still end up in foreign hands, regardless of the original founders' intentions.
Open Future analyses in their report "Who Controls Europe's AI Future?" the risks of foreign ownership of European AI infrastructure. The conclusion is clear: ownership structure determines who writes the rules. Whoever owns the infrastructure decides who has access, what data is processed, and which values are protected.
Steward ownership provides structural protection. In this model, the organisation cannot be sold to non-European parties. Profits are reinvested in the public mission, not distributed to shareholders. Governance remains with the people who carry the mission, not with those who contribute the most capital.
The Netherlands is already working on legislation for steward ownership, as laid down in the coalition agreement. This makes it legally possible to create ownership structures that are resistant to hostile takeovers. It is a unique instrument that is not available anywhere else in Europe in this form.
The Nexperia case makes this concrete: a Dutch chip company lost its strategic position through a foreign acquisition. Promises about ownership proved insufficient — only structural protection offers certainty. This example shows what is at stake when strategic technology infrastructure is not adequately protected.
Sovereign AI-Grid implements steward ownership as its governance model. As the Council of the EU confirmed: protecting strategic interests is essential for the success of the AI gigafactories. Our governance model is designed to guarantee this protection not as a promise, but as a legal fact.
“We do not offer promises about European ownership. We offer legal guarantees.”
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