Written question asked by Lord Taylor of Warwick (Non-affiliated) on Tuesday, 19 May 2026, in the House of Lords. It was due for an answer on Wednesday, 3 June 2026. It was answered by Baroness Lloyd of Effra (Labour) on Wednesday, 3 June 2026 on behalf of the Department for Science, Innovation and Technology.

Artificial Intelligence: Investment

Question: To ask His Majesty's Government what assessment they have made of recent increases in investments received by United Kingdom-based artificial intelligence companies.

Answer

Since this government came to power, nearly £100 billion worth of investment has been pledged to be spent in the UK's AI sector.

Throughout this time, many of our world-leading AI start-ups have raised significant investment. For example, Wayve have raised $1.2bn to deploy its autonomous driving software, including in London; and ElevenLabs raised $500m at an $11bn valuation, to expand its research and product development and continue its international expansion. David Silver, one of Britain’s top AI researchers, has raised more than $1bn in seed funding for his new London-based AI startup, Ineffable Intelligence, including investments from the British Business Bank and the Sovereign AI Fund.

Secondary information

Type: Written question
Reference: HL301
Session: 2026-27
Subjects: Business Investment Artificial intelligence
Link: View this Written question on www.parliament.uk

Artificial Intelligence: Investment

Secondary information

Librarians' tools