B

Baroness Lloyd of Effra (Lab)

Speaking in the House of Lords on 1 June 2026

Debate

Sovereign AI Fund

Contribution

The noble Lord is right to refer to the independent Competition and Markets Authority. It has conducted a major, 22-month investigation into the cloud market and is now acting. It has announced a package of actions to strengthen competition in business software and cloud services. It will be launching a strategic market status designation investigation into Microsoft’s business software system in May that will allow the CMA to examine cloud licensing and actions from Microsoft and Amazon on improving cloud interoperability and reducing egress fees. In terms of the role the AI sovereign fund might play, it is at a relatively early stage of development. Infrastructure is one of its priority areas, and we will see what opportunities come in the near future.

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