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To ask the Secretary of State for Business, Innovation, Science and Trade, when the last partner meeting or Investment Committee meeting of the Sovereign AI Fund took place.
To ask the Secretary of State for Business, Innovation, Science and Trade, when the last partner meeting or Investment Committee meeting of the Sovereign AI Fund took place.
- Sovereign AI investment decisions are overseen by the British Technology Investments (BTI) Board, pending the establishment of the Sovereign AI Investment Committee. The most recent Board meeting took place in the week commencing 28th September.
- Since its launch in April, Sovereign AI has publicly announced seven direct investments into British AI startups: Callosum, Ineffable Intelligence, Isomorphic Labs, CuspAI, Olix, Basecamp Research and, most recently, Augur. Further investments have been approved and will be announced in due course.
- The Sovereign AI Fund has awarded compute to 22 companies across the UK AI ecosystem with around 6.5 million GPU hours on Isambard-AI allocated to date.
- The Fund does not deploy private capital directly, but aims to crowd in private capital via follow-on investment into supported companies.
- At launch in April 2026 the headcount at Sovereign AI was 12. Sovereign AI is currently growing to a projected headcount of c.30 by March 2027. This includes teams covering investments, R&D schemes, policy and operations.
To ask the Secretary of State for Business, Innovation, Science and Trade, how many companies have received compute allocations from the Sovereign AI Unit; how many GPU-hours in total; and what the notional value of those hours is.
To ask the Secretary of State for Business, Innovation, Science and Trade, how many companies have received compute allocations from the Sovereign AI Unit; how many GPU-hours in total; and what the notional value of those hours is.
- Sovereign AI investment decisions are overseen by the British Technology Investments (BTI) Board, pending the establishment of the Sovereign AI Investment Committee. The most recent Board meeting took place in the week commencing 28th September.
- Since its launch in April, Sovereign AI has publicly announced seven direct investments into British AI startups: Callosum, Ineffable Intelligence, Isomorphic Labs, CuspAI, Olix, Basecamp Research and, most recently, Augur. Further investments have been approved and will be announced in due course.
- The Sovereign AI Fund has awarded compute to 22 companies across the UK AI ecosystem with around 6.5 million GPU hours on Isambard-AI allocated to date.
- The Fund does not deploy private capital directly, but aims to crowd in private capital via follow-on investment into supported companies.
- At launch in April 2026 the headcount at Sovereign AI was 12. Sovereign AI is currently growing to a projected headcount of c.30 by March 2027. This includes teams covering investments, R&D schemes, policy and operations.
To ask the Secretary of State for Business, Innovation, Science and Trade, how many people are currently employed by the Sovereign AI Fund.
To ask the Secretary of State for Business, Innovation, Science and Trade, how many people are currently employed by the Sovereign AI Fund.
- Sovereign AI investment decisions are overseen by the British Technology Investments (BTI) Board, pending the establishment of the Sovereign AI Investment Committee. The most recent Board meeting took place in the week commencing 28th September.
- Since its launch in April, Sovereign AI has publicly announced seven direct investments into British AI startups: Callosum, Ineffable Intelligence, Isomorphic Labs, CuspAI, Olix, Basecamp Research and, most recently, Augur. Further investments have been approved and will be announced in due course.
- The Sovereign AI Fund has awarded compute to 22 companies across the UK AI ecosystem with around 6.5 million GPU hours on Isambard-AI allocated to date.
- The Fund does not deploy private capital directly, but aims to crowd in private capital via follow-on investment into supported companies.
- At launch in April 2026 the headcount at Sovereign AI was 12. Sovereign AI is currently growing to a projected headcount of c.30 by March 2027. This includes teams covering investments, R&D schemes, policy and operations.
To ask the Secretary of State for Business, Innovation, Science and Trade, what steps he has taken to increase the private capital available for use by the Sovereign AI Fund.
To ask the Secretary of State for Business, Innovation, Science and Trade, what steps he has taken to increase the private capital available for use by the Sovereign AI Fund.
- Sovereign AI investment decisions are overseen by the British Technology Investments (BTI) Board, pending the establishment of the Sovereign AI Investment Committee. The most recent Board meeting took place in the week commencing 28th September.
- Since its launch in April, Sovereign AI has publicly announced seven direct investments into British AI startups: Callosum, Ineffable Intelligence, Isomorphic Labs, CuspAI, Olix, Basecamp Research and, most recently, Augur. Further investments have been approved and will be announced in due course.
- The Sovereign AI Fund has awarded compute to 22 companies across the UK AI ecosystem with around 6.5 million GPU hours on Isambard-AI allocated to date.
- The Fund does not deploy private capital directly, but aims to crowd in private capital via follow-on investment into supported companies.
- At launch in April 2026 the headcount at Sovereign AI was 12. Sovereign AI is currently growing to a projected headcount of c.30 by March 2027. This includes teams covering investments, R&D schemes, policy and operations.
To ask the Secretary of State for Business, Innovation, Science and Trade, how many individual companies have received investment from the Sovereign AI Fund.
To ask the Secretary of State for Business, Innovation, Science and Trade, how many individual companies have received investment from the Sovereign AI Fund.
- Sovereign AI investment decisions are overseen by the British Technology Investments (BTI) Board, pending the establishment of the Sovereign AI Investment Committee. The most recent Board meeting took place in the week commencing 28th September.
- Since its launch in April, Sovereign AI has publicly announced seven direct investments into British AI startups: Callosum, Ineffable Intelligence, Isomorphic Labs, CuspAI, Olix, Basecamp Research and, most recently, Augur. Further investments have been approved and will be announced in due course.
- The Sovereign AI Fund has awarded compute to 22 companies across the UK AI ecosystem with around 6.5 million GPU hours on Isambard-AI allocated to date.
- The Fund does not deploy private capital directly, but aims to crowd in private capital via follow-on investment into supported companies.
- At launch in April 2026 the headcount at Sovereign AI was 12. Sovereign AI is currently growing to a projected headcount of c.30 by March 2027. This includes teams covering investments, R&D schemes, policy and operations.
To ask the Secretary of State for Business, Innovation, Science and Trade, what steps his Department is taking to ensure that companies receiving support through the Sovereign AI fund retain their (i) headquarters, (ii) intellectual property and (iii) key research functions in the UK over the long-term.
To ask the Secretary of State for Business, Innovation, Science and Trade, what steps his Department is taking to ensure that companies receiving support through the Sovereign AI fund retain their (i) headquarters, (ii) intellectual property and (iii) key research functions in the UK over the long-term.
Sovereign AI is designed to help the most promising UK AI companies start, scale and remain anchored in the UK. Before any equity investment, the Fund assesses a company's UK nexus, including its domicile, headquarters, key executives, technical staff and R&D activity.
Rather than attaching bespoke anchoring conditions, which would make companies less competitive and weaken the Fund's objectives, the Fund’s integrated offer of capital, compute, talent and procurement is designed to make the UK the most attractive place to build. This offer will help crowd in follow-on finance, government demand and wider ecosystem support as these companies scale.
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the extent to which public investment through the Sovereign AI fund is expected to leverage additional private sector investment into the UK semiconductor sector.
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the extent to which public investment through the Sovereign AI fund is expected to leverage additional private sector investment into the UK semiconductor sector.
The Sovereign AI Fund invests alongside the private sector in areas of existing UK strength, where government action can materially improve scaling outcomes, and there is a credible path to success. These include compute and infrastructure, which span emerging semiconductor and AI hardware technologies.
The Fund’s integrated offer – combining equity investment, compute, R&D funding, procurement and talent support – will help crowd in follow-on finance, government demand and wider ecosystem engagement for supported companies.
More broadly, concentrating public funding into this sector through wider initiatives such as the Government's £1.1 billion AI Hardware Plan is expected to boost private investment into companies across the UK semiconductor sector.
Lords private notice question on what assessment they have made of the abolition of the Department for Science, Innovation and Technology and the merging of its functions with other departments and; the implications of this on the future operation of (1) the AI Safety Institute, (2) the Sovereign AI Fund, (3) the Government Digital Service and (4) UK Research and Innovation.
Lords private notice question on what assessment they have made of the abolition of the Department for Science, Innovation and Technology and the merging of its functions with other departments and; the implications of this on the future operation of (1) the AI Safety Institute, (2) the Sovereign AI Fund,...
My Lords, science and AI are having an increasingly large impact on all areas of government policy and economic growth. We should not see science and technology as an isolated issue. That is why the Prime Minister has announced a bold restructuring, including the elevation of AI to the Office...
My Lords, science and AI are having an increasingly large impact on all areas of government policy and economic growth. We should not see science and technology as an isolated issue. That is why the Prime Minister has announced a bold restructuring, including the elevation of AI to the Office...
My Lords, many of us welcomed the creation of DSIT and the focus that it brought on science and technology, but with the very regrettable resignation of the noble Lord, Lord Vallance, who will be greatly missed, and the understandable concerns expressed by Sir Paul Nurse, the president of the...
My Lords, many of us welcomed the creation of DSIT and the focus that it brought on science and technology, but with the very regrettable resignation of the noble Lord, Lord Vallance, who will be greatly missed, and the understandable concerns expressed by Sir Paul Nurse, the president of the...
The noble Lord raises a series of very important issues. First, I put on record my absolute thanks for the work done by my noble friend Lord Vallance, who it has been a pleasure and privilege to work with. Noble Lords will appreciate—there have been many comments in your Lordships’...
The noble Lord raises a series of very important issues. First, I put on record my absolute thanks for the work done by my noble friend Lord Vallance, who it has been a pleasure and privilege to work with. Noble Lords will appreciate—there have been many comments in your Lordships’...
My Lords, does the Minister agree that there is a real danger here of exactly the wrong signal being sent to the science community? First, there is the departure of one of the most successful Science Ministers of recent years—I say that as one of his predecessors from long ago—the...
My Lords, does the Minister agree that there is a real danger here of exactly the wrong signal being sent to the science community? First, there is the departure of one of the most successful Science Ministers of recent years—I say that as one of his predecessors from long ago—the...
The noble Lord makes an interesting point, but it is also incredibly important that we talk about AI, and more broadly its impact on science and what is changing, as something that should be at the heart of government and central to every department. There has not been a subject...
The noble Lord makes an interesting point, but it is also incredibly important that we talk about AI, and more broadly its impact on science and what is changing, as something that should be at the heart of government and central to every department. There has not been a subject...
My Lords, any reorganisation like this will take of the order of 12 months, which is an eternity in AI. It is equivalent to three generations of frontier AI models. Can the Minister reassure the House that both the AI Security Institute and the sovereign AI fund will be able...
My Lords, any reorganisation like this will take of the order of 12 months, which is an eternity in AI. It is equivalent to three generations of frontier AI models. Can the Minister reassure the House that both the AI Security Institute and the sovereign AI fund will be able...
The noble Lord raises a very important point. We are seeing technology move faster than at any point over the last 100 years, never mind in my lifetime. It is incredibly important that we keep up, which is why we will now have a dedicated Minister attending Cabinet to make...
The noble Lord raises a very important point. We are seeing technology move faster than at any point over the last 100 years, never mind in my lifetime. It is incredibly important that we keep up, which is why we will now have a dedicated Minister attending Cabinet to make...
My Lords, if the House will allow me, I pay my own tribute to my noble friend Lord Vallance of Balham, whose record of public service, both as Government Chief Scientific Adviser and as Minister for Science, has been exemplary. As the noble Lord said, he will be missed. Does...
My Lords, if the House will allow me, I pay my own tribute to my noble friend Lord Vallance of Balham, whose record of public service, both as Government Chief Scientific Adviser and as Minister for Science, has been exemplary. As the noble Lord said, he will be missed. Does...
My noble friend is absolutely right. The new Department for Business, Innovation, Science and Trade will focus on new and emerging sectors as part of our reindustrialisation agenda. This is about building on the foundations that we have already made so that we can move further and faster to deliver...
My noble friend is absolutely right. The new Department for Business, Innovation, Science and Trade will focus on new and emerging sectors as part of our reindustrialisation agenda. This is about building on the foundations that we have already made so that we can move further and faster to deliver...
My Lords, there is much scratching of heads about the detachment of science and technology. We hear about an AI Minister who will now be in a new office at the Cabinet Office and, some are also saying, at DCMS reporting into it, but we were talking about movement in...
My Lords, there is much scratching of heads about the detachment of science and technology. We hear about an AI Minister who will now be in a new office at the Cabinet Office and, some are also saying, at DCMS reporting into it, but we were talking about movement in...
The noble Lord raises a genuinely valid point, but this is about how we mainstream everything and put this at the heart. Everything we are talking about is AI-enhanced reindustrialisation. I appreciate that there are many times when we use “AI” as shorthand for tech or science, just because of...
The noble Lord raises a genuinely valid point, but this is about how we mainstream everything and put this at the heart. Everything we are talking about is AI-enhanced reindustrialisation. I appreciate that there are many times when we use “AI” as shorthand for tech or science, just because of...
My Lords, there are five areas where a country or a company can lead in artificial intelligence: people, chips, models, infrastructure and deployment. The leading global companies are spending about £500 billion this year on it; our spending as a country will be roughly 0.3% of that. Given the scale...
My Lords, there are five areas where a country or a company can lead in artificial intelligence: people, chips, models, infrastructure and deployment. The leading global companies are spending about £500 billion this year on it; our spending as a country will be roughly 0.3% of that. Given the scale...