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In our September-October 2021 issue, Jean-François Soupizet examined the issue of ’The Internet Giants vis-à-vis Nation-States’. In that article, he showed the rise of a handful of colossal digital companies, largely American and Chinese, that had become dominant central players in many fields in both the private and public sectors. In the face of such power, the question arose of how citizens and users are to be protected — a question still unanswered — and also how states are to remain independent in relation to these ’Big Tech’ corporations. A little less than two years on, the context has changed (particularly because of the war in Ukraine and the increased fragility of the global economy) and signs of feverishness have emerged — not to mention some serious setbacks — in the digital world, which are likely to modify somewhat the balance of power between the Internet giants and states. In this new article, Jean-François Soupizet shows how the situation has changed as a result of the developing economic situation, but probably also of more structural changes. Given their influence and omnipresence in economic and social life, the Internet giants remain engines of innovation and, generally, major players which simply cannot be ignored. But they also have to find an accommodation with states, partly on account of the geopolitical tensions at play (China/USA, Russia/Europe etc.) and partly because of digital governance regulations that are being put in place at different levels. Jean-François Soupizet closes by reviewing the scenarios he had considered in 2021 in the light of these changes and by proposing an additional scenario in which we move towards a more collaborative relationship between the Big Tech corporations and states, including at the global level.