Nvidia's multi-billion pound AI agreement with the UK, announced by Starmer, becomes the largest technology deal with the US to date.
Nvidia Announces £2 Billion Investment in UK's AI Sector
In a significant move, US tech giant Nvidia has announced a £2 billion investment in the United Kingdom's artificial intelligence (AI) sector. This investment forms part of a wider deal agreed between the UK and US during President Donald Trump's second state visit, which will see American firms invest in AI and emerging technologies in Britain.
The investment, aimed at boosting the UK's AI start-up sector, expanding computing infrastructure, and providing capital to founders in hubs including London, Oxford, Cambridge, and Manchester, was announced at an event hosted by Nvidia in central London on Thursday evening. The Prime Minister addressed the crowd, stating that this is the "biggest-ever tech agreement between the United States and the United Kingdom."
Nvidia's chief executive, Jensen Huang, presented Sir Keir Starmer with the bezel, or frame, of the world's first AI supercomputer, the DGX-1. According to Huang, the UK is in a "Goldilocks moment" for AI investment.
Microsoft, led by CEO Satya Nadella, made a £2.4 billion (30 billion USD) investment in the UK over four years, focusing on AI and cloud infrastructure. US commerce secretary Howard Lutnick and UK Business Secretary Peter Kyle were in attendance at the Nvidia event.
Sir Keir Starmer hailed Nvidia's investment as part of the "biggest-ever tech agreement" between the UK and the United States. He laughed off Elon Musk's criticism of his leadership during the Nvidia event. Musk had expressed interest in the computer announced by Jensen Huang in 2016.
The investment will be made in collaboration with venture funds Accel, Air Street Capital, Balderton Capital, Hoxton Ventures, and Phoenix Court. The initiative aims to tackle challenges such as limited access to supercomputing, concentration of venture capital in London, rising energy costs, and barriers between investors and academic institutions in the UK.
Downing Street stated that the partnership would strengthen the UK's position as a global AI leader. The Prime Minister further mentioned that this investment will put tech as a special feature of the special relationship between the two countries.
Jensen Huang also mentioned that in 2016 he announced a brand new computer - the world's first supercomputer. The funding is part of a wider deal agreed between the UK and US, which will see American firms invest in AI and emerging technologies in Britain.
The investment by Nvidia is expected to have a significant impact on the UK's AI sector, providing much-needed resources and support to researchers, developers, and entrepreneurs.
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