US tech firms invest US$8.2 billion in UK to boost AI

United States technology companies announced a billion dollar investment package to expand technology infrastructure in the United Kingdom, totaling approximately US$8.2 billion. Among the key participants Service now and the KorveevIt plans to expand the capacity of data centers and strengthen support for artificial intelligence (AI). CNBC.

The announcements were made during the International Investment Summit, where Prime Minister Keir Starmer met with business leaders and highlighted the UK as a global hub for AI and technology innovation.

ServiceNow, known for its enterprise software solutions, has committed to invest USD 1.5 billion in the country over the next five years. In addition to opening new offices and improving the processing capacity of large language models (LLM) with Nvidia GPUs, the company intends to increase its local workforce of 1,000 employees. These capabilities will be installed in London and Newport data centers to ensure security and local data processing.

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In addition, CoreWeave, which specializes in providing high-performance GPUs to companies developing AI, announced a new investment of £750 million ($978.6 million) to meet growing demand for AI infrastructure in the UK. According to CNBC, this is the country’s second major pledge, having already pledged £1 billion by May 2024.

Other US companies such as data center operators CyrusOne And CloudHQThey are also expanding their presence in the United Kingdom. CyrusOne plans to invest £2.5 billion over the next few years, while CloudHQ is building a £1.9 billion data center complex in Didcot, Oxfordshire. According to British government data, investments in cloud infrastructure totaled £6.3 billion.

The efforts are part of a larger effort led by Prime Minister Keir Starmer to attract more foreign investment in technology to the country, CNBC reported. Second Peter Kyle, UK Technology MinisterThis capital inflow demonstrates confidence in the government’s strategy to promote sustainable growth in partnership with the private sector, he said in a statement on Monday.

“The UK is embracing technological change on a massive scale. In this new era of AI, the country continues to be a global leader in driving innovation for the benefit of all its communities,” he said. Bill McDermott, CEO of ServiceNowIn a statement on Monday. “Our investments accelerate the UK’s drive to use AI to empower people, improve experiences and strengthen social relationships. Together, ServiceNow and our customers across the UK are creating a future where technology benefits everyone.

In addition to its focus on infrastructure, ServiceNow announced new skills programs aimed at reaching 240,000 people in the UK, preparing the local workforce for the challenges of the new era of AI.

*With information from CNBC

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