US technology giant Nvidia has announced a £2 billion investment in the UK’s artificial intelligence start-up ecosystem.
The company said the money will be used to expand AI infrastructure and provide capital to founders in major hubs including London, Oxford, Cambridge and Manchester.
Nvidia founder and chief executive Jensen Huang said: “This is the age of AI – the big bang of a new industrial revolution.
“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 UK to lead the next wave of AI innovation.”
The investment will be made in collaboration with venture funds Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court.
Downing Street said the partnership would strengthen Britain’s position as a global AI leader.
Prime Minister Sir Keir Starmer said: “Nvidia’s investment is a major vote of confidence in the UK 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 UK remains at the forefront of global AI leadership.”
The initiative comes amid long-standing concerns that scaling AI companies in Britain has been hampered by limited access to supercomputing, a concentration of venture capital in London, rising energy costs and barriers between investors and academic institutions.
Nvidia said its investment will help to tackle those challenges and connect researchers, developers and entrepreneurs with the capital and computing resources they need.
Sonali De Rycker, partner at Accel, said: “World-class compute and fresh capital will empower the next wave of entrepreneurs and AI start-ups, create new jobs and further enable the UK to compete in the AI race.
“The UK has long been a hotbed for AI talent, with a strong community of researchers, founders and world-class universities, and this new investment will supercharge the AI flywheel.”
Nathan Benaich, general partner at Air Street Capital, said: “The UK has world-class talent and research but the infrastructure has not kept pace.
“This commitment aims to bridge that gap by providing UK founders with the resources needed to build globally significant AI companies.”
James Wise, partner at Balderton Capital, said: “The challenge facing us is how to overcome constraints like the cost of energy or ability to access compute.
“Investment from firms like Balderton and companies like Nvidia will help smooth the path, so more global winners can be built and thrive here in the UK.”
Hussein Kanji, founder and partner at Hoxton Ventures, said: “The UK has the talent, research institutions and entrepreneurial drive to build world-leading AI companies – but turning breakthrough ideas into global impact requires collective action.
“We’re thrilled to partner with Nvidia to commit resources to help Britain’s brightest founders commercialise their innovations and build the next generation of transformational AI companies.”
Saul Klein, founder and executive chairman of Phoenix Court, added: “Britain has the science and the talent.
“This collaboration with Nvidia puts capital and computing power in their hands to scale globally.”
Nvidia said the investment celebrates the “transatlantic partnership” between the UK and US, coming shortly after its pledge to manufacture up to half a trillion dollars’ worth of AI supercomputers in America.