Cloud actors are navigating a structural reordering of the global digital stack. As providers of infrastructure underpinning data storage, processing, and AI deployment, they sit at the centre of tensions around data jurisdiction, technological dependence, and geopolitical risk. What was once defined by scale, efficiency, and interoperability is increasingly shaped by sovereignty, chokepoint control, and political contestation. Access to and control over digital infrastructure have become key determinants of power, requiring firms to internalise this logic.