Nvidia has announced a £2bn investment to strengthen the UK’s artificial intelligence start-up ecosystem. Calling this the “age of AI,” the company’s CEO highlighted plans to support firms such as Revolut and Wayve.
According to Nvidia’s statement on September 18, the funding will be directed towards advancing AI technology in the UK with the goal of fostering new companies and creating jobs.
The initiative is being carried out in collaboration with venture capital firms Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court.
The company stated that the investment will increase access to funding across economic hubs, “AI Growth Zones,” and deep technology clusters in cities including London, Oxford, Cambridge and Manchester.
Earlier this week, Nvidia joined Microsoft and OpenAI in announcing more than $40bn in combined investments to expand AI capabilities in the UK. This included $30bn from Microsoft, marking its largest-ever investment in the country. OpenAI launched its Stargate project in the UK, while Nvidia partnered with CoreWeave, Nscale and Microsoft to develop new AI factories worth $15bn.
In a separate move, Nvidia confirmed yesterday that it is purchasing $5bn worth of shares in rival Intel. The two companies have agreed to collaborate on future generations of custom data centre and personal computing products.
