The concept of sovereign AI is gaining traction globally as nations seek to develop AI capabilities independent of a few US-based or PRC-based Big Tech companies (FANGMs plus BATs). Sovereign AI initiatives are under way in domiciles (or regional authorities within countries) including Singapore, Japan, Germany, France, the UK, KSA, UAE, India and others. Countries must balance the significant financial and technological investments that may be required with other national priorities. Options for nation-states, supranational federals (e.g., EU) and international alliances (e.g., ASEAN) include building sovereign AI, collaborating regionally, and leveraging open-source initiatives. Sovereign AI will participate in the broader structural shifts that AI is introducing globally, not only to economic and business structures, but in fundamental ways that people interact with each other, with companies, and with governments.