NVIDIA has unveiled a £2bn investment top help catalyse the UK’s AI start-up ecosystem.
The world’s biggest company said the new capital will help foster economic growth, develop more innovative AI technologies, and create new companies and jobs.
Scaling AI companies in the UK has been challenging due to limited access to supercomputing, constrained venture capital outside London, rising energy costs and difficulty for VCs to access leading academic institutions, where many researchers are also entrepreneurs. NVIDIA, in collaboration with Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court, will accelerate the UK AI ecosystem by providing new capital for AI start-ups.
“This is the age of AI – the big bang of a new industrial revolution,” said Jensen Huang, founder and CEO of NVIDIA. “The United Kingdom is in a Goldilocks moment, where world-class universities, bold start-ups, leading researchers and cutting-edge supercomputing converge. There has never been a better time to invest in the UK – AI is unlocking new science and sparking entirely new industries. With new capital and advanced infrastructure, we are doubling down to empower the U.K. to lead the next wave of AI innovation.”
UK Prime Minister, Keir Starmer, said: “NVIDIA’s investment is a major vote of confidence in the U.K. both today and long into the future.
“By backing our start-ups, empowering our researchers and connecting capital with talent, this partnership will create jobs, spark new industries and ensure the U.K. remains at the forefront of global AI leadership.”
