Kaushik Subramanian

Kaushik Subramanian (EQT Ventures): UK Sovereign AI Fund, Europe vs US, OpenAI-Microsoft

Kaushik Subramanian welcomes the UK's £500M sovereign AI fund, describing it as a standard equity investor founders can take almost as a way of giving back — no weird structures, normal VC KPIs, and likely a much bigger follow-on if fund one produces breakouts. He pushes back on the 'Europe has nothing' framing, citing ElevenLabs in speech, Lovable in vibe coding, and EQT-backed Parloa against Sierra as categories Europe now leads, while conceding the US holds a multi-decade, multi-vintage head start. On OpenAI and Microsoft loosening their partnership, he reads it as IPO preparation — an equity stake plus guaranteed spend replacing compute lock-in — and expects a more level playing field for rival clouds like AWS.

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