Location of PowerBI cloud data

The location of the person whose sign-up triggers a Power BI Tenant creation will determine where that tenant is located. For instance, I am in Switzerland - when we created our Power BI tenant, I'm reasonably certain it would have been created in the nearest data centre at that time - most likely the netherlands (don't think Austria was active at that time).

Any data stored in Power BI itself will be stored in the location of the tenant.

Though if the data needs to stay in the EU, why not upload it to an Azure store somewhere - where you have better control over the physical location of data and connect to it from there...