Nvidia will invest £2bn into the UK’s artificial intelligence start-up sector, its CEO announced while referring to this period as the “age of AI.” The programme will benefit firms such as Revolut and Wayve.
According to Nvidia’s September 18 statement, the investment will target AI technology development, aiming to foster new start-ups and employment. The plan is backed by venture capital groups Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court.
The company explained that funding will be focused on “AI Growth Zones” across London, Oxford, Cambridge and Manchester.
The announcement follows more than $40bn in combined investment from Nvidia, Microsoft and OpenAI revealed earlier this week. Microsoft pledged $30bn, its largest-ever UK investment. OpenAI introduced its Stargate initiative, and Nvidia partnered with CoreWeave, Nscale and Microsoft to develop AI factories worth $15bn.
Nvidia also confirmed plans to buy $5bn in Intel stock. The two companies will collaborate on designing future data centre and PC products.
