by & nbspdoloresz Katanich & nbspwith & nbspAP
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Nvidia, the world's largest public company, announced on Thursday it would invest £2 billion (euros 2.3 billion) in an artificial intelligence startup in the UK.
This pledge comes as many other tech companies make commitments to concentrate capital domestically, especially during US President Donald Trump's trip to the UK. This announcement transformed the country into the heart of the AI world this week.
During Trump's visit to the state, the UK secured a series of investments ranging from £1500 billion (€17.222 billion), spreading across the UK's technology, finance and energy sectors, creating more than 7,600 jobs, according to the government.
Private equity group Blackstone has committed to spending £100 billion (€11.48 billion) over a decade, with Microsoft making a commitment of £222 billion (€25.255 billion);
Nvidia CEO Jensen Huang is also in the UK and has attended an event with the US President along with other Silicon Valley Bigwigs.
In the new initiative announced, Nvidia has pledged to invest £11 billion (EUR 12.6 billion) to help build the UK AI plant by the end of 2026, along with partners such as CoreWeave, Microsoft and Nscale. They are also trying to boost quantum computing in the UK.
The company has just pledged to spend another £2 billion and spend it domestically.
“New capital will be used to drive economic growth, develop more innovative AI technologies, create new companies and jobs, and enable the UK to compete in the AI market worldwide,” Nvidia said.
The company also states that “the limited access to supercomputing, constrained venture capital (VCs) outside London makes it difficult to expand AI companies now due to the energy costs of accessing major academic institutions that many researchers are entrepreneurs and the difficulty of VCS accessing.
Nvidia partners with venture capital investors Accel, Air Street Capital, Balderton, Hoxton Ventures and Phoenix Courts to provide capital and AI infrastructure to startups, researchers and developers. The focus is on hubs such as London, Oxford, Cambridge and Manchester.
