Atlassian Cloud is hosted by AWS. We can pin the data residency, e.g. EU or Germany, but finally, it's AWS.
While Amazon is a US based company and global economy is hit by US decisions, we're loosing trust in US based business. We have ranked the economic risk for AWS to high. We have ranked the risk of data privacy issues for all US based providers to extremely high, too.
Are there any plans to move to another EU based hosting provider?