Google DeepMind to build its first ‘automated science laboratory’ in the UK<\/p>\n
Google DeepMind is to build its first \u201cautomated science laboratory\u201d in the UK, in a boost to the country\u2019s artificial intelligence ambitions.<\/p>\n
The lab will be focused on materials science research, and will involve \u201cworld-class robotics\u201d synthesizing and characterizing hundreds of materials per day, with the goal of significantly shortening the timeline for identifying transformative new materials.<\/p>\n
Google DeepMind say the lab, to be built in 2026, will \u201chelp turbocharge scientific discovery\u201d, explaining:<\/p>\n
Discovering new materials is one of the most important pursuits in science, offering the potential to reduce costs and enable entirely new technologies.<\/p>\n
For example, superconductors that operate at ambient temperature and pressure could allow for low cost medical imaging and reduce power loss in electrical grids. Other novel materials could help us tackle critical energy challenges by unlocking advanced batteries, next-generation solar cells and more efficient computer chips.<\/p>\n
DeepMind is run by Sir Demis Hassabis, who won the Nobel prize for Chemistry last year for his work using AI to predict and design the structure of proteins (older readers may fondly remember his earlier work on computer games such as Theme Park and Syndicate).<\/p>\n
Share<\/a><\/p>\n Key events<\/p>\n Show key events only<\/p>\n Please turn on JavaScript to use this feature<\/p>\n Over in Switzerland, the central bank has left interest rates on hold at 0%, a day after America\u2019s central bank cut rates.<\/p>\n Explaining the decision, the SNB says:<\/p>\n Inflation in recent months has been slightly lower than expected. In the medium term, however, inflationary pressure is virtually unchanged compared to the last monetary policy assessment.<\/p>\n Our monetary policy helps to keep inflation within the range consistent with price stability and supports economic development. We will continue to monitor the situation and adjust our monetary policy if necessary, in order to ensure price stability.<\/p>\n Share<\/a>Russia’s oil and fuel export revenues lowest level since Ukraine invasion<\/p>\n In the energy sector, Russia\u2019s revenues from exports of crude oil and refined products has fallen to its lowest level since the invasion of Ukraine in 2022.<\/p>\n The International Energy Agency has reported this morning that Moscow\u2019s sales of fossil fuels fell again in November due to lower export volumes and weaker prices.<\/p>\n The Paris-based IEA reported that Russian oil exports declined by 420,000 barrels per day in November. That, combined with weaker prices, slashed revenues to $11bn, $3.6bn less than a year ago.<\/p>\n Looking ahead, the IEA predicted that global oil demand will rise by 830,000 barrels per day in 2025 \u201camid an improving macroeconomic and trade outlook\u201d, adding:<\/p>\n These brighter prospects extend to our 2026 forecast, which we have upgraded by 90 kb\/d, to 860 kb\/d y-o-y.<\/p>\n Share<\/a><\/p>\n Google\u2019s plans may intensify concerns that the UK is too close to Big Tech firms, as it tries to hold a seat on the AI bandwagon.<\/p>\n Imogen Parker, associate director at the research body Ada Lovelace Institute, says (via the FT<\/a>):<\/p>\n \u201cWe need to ask who is setting the agenda for the UK\u2019s future with AI.\u201d<\/p>\n \u201cIn the absence of independent regulation or scrutiny, we\u2019re at the mercy of technology companies\u2019 commercial interests aligning with what the public want.\u201d<\/p>\n \u201cGoogle partnering with the government to explore how to refine its own Gemini model may or may not benefit teachers and pupils, but it will undoubtedly benefit Google.\u201d<\/p>\n Share<\/a><\/p>\n DeepMind also say they are deepening their collaboration with the UK government \u2013 and the new robotic science lab is just part of it.<\/p>\n They\u2019re also giving priority access to its \u201cAI for Science\u201d models to UK scientists, including:<\/p>\n AlphaEvolve<\/a> – a Gemini-powered coding agent for designing advanced algorithms<\/p>\n AlphaGenome<\/a> – an AI model to help scientists better understand our DNA<\/p>\n AI co-scientist<\/a> – a multi-agent AI system that acts as a virtual scientific collaborator<\/p>\n WeatherNext<\/a> – a family of state-of-the-art weather forecasting models<\/p>\n In return, the UK will look into how teachers can use Google\u2019s Gemini AI model for teaching England\u2019s national curriculum.<\/p>\n The public sector will also test Google\u2019s AI tools, including Extract<\/a> – a tool for council planners that uses Gemini to transform old planning documents into digital data.<\/p>\n Share<\/a>Google DeepMind to build its first ‘automated science laboratory’ in the UK<\/p>\n Google DeepMind is to build its first \u201cautomated science laboratory\u201d in the UK, in a boost to the country\u2019s artificial intelligence ambitions.<\/p>\n The lab will be focused on materials science research, and will involve \u201cworld-class robotics\u201d synthesizing and characterizing hundreds of materials per day, with the goal of significantly shortening the timeline for identifying transformative new materials.<\/p>\n Google DeepMind say the lab, to be built in 2026, will \u201chelp turbocharge scientific discovery\u201d, explaining:<\/p>\n Discovering new materials is one of the most important pursuits in science, offering the potential to reduce costs and enable entirely new technologies.<\/p>\n For example, superconductors that operate at ambient temperature and pressure could allow for low cost medical imaging and reduce power loss in electrical grids. Other novel materials could help us tackle critical energy challenges by unlocking advanced batteries, next-generation solar cells and more efficient computer chips.<\/p>\n DeepMind is run by Sir Demis Hassabis, who won the Nobel prize for Chemistry last year for his work using AI to predict and design the structure of proteins (older readers may fondly remember his earlier work on computer games such as Theme Park and Syndicate).<\/p>\n Share<\/a><\/p>\n Shares in European semiconductor and tech firms have fallen in early trading after Oracle\u2019s results last night.<\/p>\n The STOXX Europe Technology index is down 0.8%, after Oracle missed market expectations.<\/p>\n Share<\/a>Drax considers data centre at Yorkshire power plant<\/p>\n In other AI-related news, power company Drax is drawing up plans to add one gigawatt of data-centre capacity to its Yorkshire power plant.<\/p>\n In its results this morning, the company reveals it is preparing a planning application for a data centre of around MW on land at its Drax Power Station.<\/p>\n It believes infrastructure and transformers previously used to support coal generation could support the operation of a data centre at Drax Power Station as soon as 2027.<\/p>\n Drax says it is focused on options to maximise value from the Drax Power Station site, which covers more than 1,000 acres.<\/p>\n The biomass plant is subsidised<\/a> to burn wood pellets to generate electricity.<\/p>\n Share<\/a><\/p>\n Updated at\u00a003.36 EST<\/p>\n Oracle price targets cut<\/p>\n Financial analysts have been quick to cut their target price for Oracle\u2019s shares following last night\u2019s results (and the drop in after-hours trading).<\/p>\n According to Reuters, Barclays have cut their target price for Oracle Corp to $310 from $330<\/p>\n Bank of America cut their price objective to $300 from $368, and JP Morgan cut their target price to $230 from $270.<\/p>\n Before releasing its results, Oracle closed at $223.01 last night, before falling to $197.26 in after-hours trading\u2026<\/p>\n Share<\/a><\/p>\n The disappointment over Oracle\u2019s earnings report is rippling through the AI sector.<\/p>\n In Japan, shares in Softbank \u2013 a major AI investor \u2013 have fallen by 7.7%, pulling down the Nikkei 225 stock index.<\/p>\n Tokai Tokyo Intelligence Laboratory market analyst Shuutarou Yasuda explains:<\/p>\n \u201cThe Nikkei opened higher to track overnight Wall Street\u2019s rises, but the gains were erased by declines of SoftBank Group.\u201d<\/p>\n \u201cThe earnings of Oracle raised concerns if the data centre project, in which SoftBank Group is involved, would proceed as expected.\u201d<\/p>\n Share<\/a><\/p>\n Overnight risk sentiment is \u201csubdued after weaker revenue and higher capex requirement from Oracle\u201d, reports Mohit Kumar of investment bank Jefferies.<\/p>\n Share<\/a>Introduction: Oracle shares slide as earnings cast doubt over AI profitability<\/p>\n Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.<\/p>\n Fears about the profitability of the AI industry are on the rise again, after results from Oracle failed to impress Wall Street.<\/p>\n Oracle, part of the race to provide huge computing power for AI companies, missed revenue and profit expectations last night. It also reported a jump in spending on AI data centers \u2013 an area where it has already been spending (and borrowing) heavily.<\/p>\n Capital expenditure for the 2026 fiscal year is now expected to be $15bn higher than the $35bn Oracle estimated in September, showing that the cost of constructing the infrastructure for the AI revolution is rising fast\u2026 before many profits show up.<\/p>\n Oracle also booked a one-off $2.7bn pre-tax gain through the sale of its stake in chip designer Ampere Computing.<\/p>\n