EUVC

Anthropic has overtaken OpenAI in revenue and Europe is emerging as a key AI battleground.
In this episode of This Week in European Tech, Dan Bowyer (SuperSeed) and Lomax Ward (Outsized Ventures) break down a week shaped by AI momentum, capital concentration and macro uncertainty. They cover Anthropic’s rise, its enterprise focus and latest model, and whether current growth can justify the scale of AI investment.
They also explore the coming wave of mega IPOs and what it means for liquidity, alongside JPMorgan CEO Jamie Dimon’s shareholder letter on inflation, interest rates and private credit. The episode closes with climate investing’s shift towards energy security and the move to faster, software-led defence systems.
Key topics
Anthropic vs OpenAI: revenue growth, enterprise dominance and Europe expansion

Mega IPO wave: SpaceX, OpenAI, Anthropic and capital market strain

Jamie Dimon’s warning: inflation, rates and private credit risks

Climate investing shift: from ESG to energy security and resilience

Defence transformation: from legacy procurement to agile, software-led warfare

Timestamps
(00:00) Intro and macro setup
(05:00) Anthropic growth, Mythos and AI competition
(12:30) Positioning, ethics and enterprise adoption in AI
(22:00) Jamie Dimon letter: inflation and private credit
(29:00) IPO pipeline and capital constraints
(36:00) Climate and energy security shift
(42:00) Germany defence spend and modern warfare
(46:30) OpenAI moves, predictions and deals

Has crypto quietly crossed the line from hype to real financial infrastructure?
Tune into this episode of the EUVC podcast, hosted by Andreas Munk Holm, as he is joined by Simone Maini, CEO of Elliptic, and Jay Wilson, Partner at AlbionVC, to unpack crypto’s next phase.
They break down the shift from uncertainty to quantifiable risk, how institutions assess on-chain transactions and why supporting infrastructure is now critical to the venture case, alongside stablecoins and global regulatory momentum.
Key highlights:
The shift from uncertainty to quantifiable risk
How institutions assess risk in on-chain transactions
Why infrastructure is critical to the venture case
Stablecoins enabling faster, cheaper global payments
Regulatory clarity across Europe, the US, Singapore and the UAE
Timestamps:
(00:00) Crypto meets traditional finance
(01:00) What Elliptic does in digital assets
(02:00) The venture case for crypto
(04:00) Where global crypto activity is shifting
(07:00) Regulation, risk and market maturity
(10:00) Europe, MiCA and the race to lead
(18:00) Founder–investor dynamics in volatile markets
(33:00) Stablecoins and the future of payments
(37:00) AI, agentic transactions and what’s next
(42:00) Final thoughts on crypto’s second act
Explore more on European tech thought leadership at: https://eu.vc

We can’t reach 1.5°C with emissions cuts alone. Carbon removal must scale alongside decarbonisation.
In this episode, Andreas and co-host Carmel Rafaeli, Founding Partner at The Table, sit down with Henrietta Moon, Founder & CEO of Carboculture to unpack what it actually takes to build carbon removal infrastructure.
Carbo Culture is scaling biochar into industrial systems that lock carbon away for centuries — while generating revenue across agriculture, energy, and materials.

We cover:
• How biochar works and why it’s scalable
• Why carbon removal alone isn’t a business
• The shift to regulated carbon markets
• Financing capital-intensive climate infrastructure
• Scaling from innovation to repetition

Timestamps:
(00:00) Intro & funding gap
(02:00) Biochar explained
(03:00) EU regulation
(05:00) Business model
(08:00) Revenue strategy
(17:00) Offtake & demand
(22:00) Project finance
(36:00) Founder journey

Europe wants to lead in AI, defence, and infrastructure. The question is whether it can actually execute.
In this episode of Upside, Dan Bowyer (SuperSeed) and Lomax Ward (Outsized Ventures), joined by Andrew J Scott (7percent Ventures), unpack a week where ambition and reality are starting to diverge.
Mistral raises $830M to build sovereign AI infrastructure. Poolside’s $2B round collapses after losing compute access. And UK defence tech founders are leaving—not for lack of ideas, but for lack of contracts.
Across all of this, one pattern emerges:
Europe isn’t short on capability. It’s short on systems that work.
Key topics:
Why Europe’s capital problem starts earlier than growth
Mistral’s infrastructure bet and what it signals
Poolside, CoreWeave, and the fragility of compute access
The UK defence tech bottleneck: funding vs procurement
Palantir, trust, and the case for sovereign software
If you’re building in AI, defence, or deep tech, this is where the constraints actually are.

Timestamps
00:00 Intro and the week’s themes
03:00 News roundup: space, IPOs and market signals
08:00 Mistral’s $830M raise and sovereign AI infrastructure
15:00 Poolside, CoreWeave and compute dependency risk
23:00 Palantir, the NHS and the trust gap
31:00 UK defence tech and founder flight
40:00 Procurement vs capital: where companies stall
42:00 Predictions: local AI vs hyperscalers
50:00 Deals of the week

For decades, Europe built around efficiency — global supply chains, outsourced infrastructure, and distributed value creation. That model is now breaking down.
In this episode, Cameron McLain (Co-Founder & Managing Partner at Giant Ventures) argues that the next era isn’t about startups — it’s about control.
Who owns the infrastructure determines who captures the value.
We discuss why venture is moving from convenience to systems, why “purpose-driven founders” outperform, and what it actually means to build a European stack across energy, manufacturing, and financial rails.

Timestamps
00:00 – Introduction: From impact to sovereignty02:00 – Why purpose-driven founders build enduring companies05:00 – Giant Ventures and the transatlantic perspective07:30 – The shift from efficiency to resilience10:00 – Why infrastructure is the new venture frontier12:00 – What the “European stack” actually means15:00 – Can Europe compete with hyperscalers?18:00 – The role of government: builder vs buyer23:00 – Why energy, manufacturing, and financial rails matter30:00 – AI, labour disruption, and the future of work34:00 – Europe’s biggest bottleneck: exits and capital markets