LONDON: Coreweave, a US tech company that provides cloud computing services for artificial intelligence, announced on Friday it would inject £1 billion ($1.3 billion) in its latest major AI investment in the UK.
CoreWeave said in a statement that it has already opened a European headquarters in London as part of its UK plans, and will also open two data centers next year, with further expansion planned for 2025.
“We are seeing unprecedented demand for AI infrastructure, and London is a key AI hub in which we are investing,” said Mike Intrater, co-founder and CEO of CoreWeave.
British Chancellor Rishi Sunak welcomed the news, saying it “further strengthens the UK's position as an AI and technology superpower”.
He added that the UK has the third highest number of AI companies and private investment in the world, adding: “We are doing everything we can to make the UK the best place for pioneering companies like CoreWeave to put down roots. “There is,” he said.
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Coreweave, whose investors include semiconductor giant Nvidia, was founded in 2017 and is based in New Jersey. According to media reports, its value is estimated at around $19 billion.
Friday's announcement came two days after British tech startup Wave revealed record funding of about $1.1 billion led by Japan's SoftBank to develop AI systems for self-driving cars.
In-vehicle AI pioneer Wave has also secured cash from US tech giants Microsoft and Nvidia.
In a further boost to the UK, data infrastructure company Scale AI has announced that it has selected London as the location for its first European headquarters.
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