Leading Tech Firms Invest 2.5 Bln In UK

Chancellor of the Exchequer Jeremy Hunt has announced that world leading tech companies have pledged 2 billion pounds ($2.5 billion) worth of investments in the UK this week.

Supporting more than 1,300 skilled jobs, Siemens Healthineers Thursday announced that they are investing 250 million pounds ($312 million) to design and manufacture superconducting magnets for MRI scanners at a new Siemens Healthineers facility in North Oxfordshire.

This comes as world leading AI firm CoreWeave are also investing 1 billion pounds ($1.25 billion) in the UK, as well as confirming their new European Headquarters will be based in the capital.

These two UK data centres will be opened in 2024, with a further expansion planned in 2025, helping secure the necessary processing power for machine learning and AI, graphics and rendering, life sciences and real-time streaming.

This investment also follows Scale AI, the data infrastructure company for AI, selecting London as the location for its first European headquarters.

Earlier this week, Wayve announced they had secured more than $1.05 billion to develop the next generation of AI-powered self-driving vehicles in the UK.

“Businesses are making a safe bet in Britain. We have attracted the third highest amount of greenfield foreign direct investment since 2010 and the UK accounts for around half of all AI private capital investment in Europe. We really are turning a corner, and the businesses of the future agree,” Hunt said.

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