This white paper presents an overview of the current state of the art in high-performance computing (HPC) and its convergence with cloud technologies, with a strategic focus on innovation management and exploitation. It outlines recent advances in cloud-based HPC services, hybrid architectures, and federated systems that integrate edge, cloud, and HPC resources. Emerging paradigms such as federated learning, AIdriven optimization, and sustainable computing are analyzed for their transformative potential. Special emphasis is placed on the NOUS project, which exemplifies a holistic approach to federated HPC-cloud services, combining technical innovation with robust exploitation strategies. NOUS goes one step beyond and explores the integration of quantum computing in handling data existing in the cloud. As of late 2025, the synergy between Cloud Computing and Quantum Computing (QC) has matured into a functional "Quantum-as-a-Service" (QaaS) model. While physical quantum hardware remains too fragile for on-premise deployment, cloud providers have democratized access to the "Quantum Stack." This report highlights this progress, the issues and real future applications. NOUS addresses European priorities for digital sovereignty and data interoperability, supporting scalable, privacy-preserving, and AI-enabled HPC workflows. The paper concludes with a roadmap that positions NOUS as a reference architecture and innovation catalyst for Europe's distributed computing ecosystem.