Google, part of Alphabet Inc., revealed its intention to invest £5 billion, approximately $6.8 billion, in the UK specifically to boost the development of an AI economy in the country in the next two years.
The tech giant shared this significant plan just as the US President Donald Trump gets ready to disclose economic deals surpassing $10 billion. This was brought during Trump’s visit to the US’s long-standing ally this week.
Google and AI rivals fuel UK tech surge
Not all the investment will be dedicated to the above sector; some will be set aside for a newly developed data center in Waltham Cross that focuses on meeting the surging demand for Google’s services, such as map and search services. According to the tech giant, this investment is a game-changer that will create about 8,250 jobs for UK citizens annually.
Just like Google, its rivals in the AI race, OpenAI and Nvidia, are also eyeing the UK to make investments worth billions in the country’s data centers during Trump’s visit.
According to reports, the investment will be implemented in collaboration with Nscale Global Holdings Ltd. Nscale is a London firm that operates large scale data centers and is a major player in Europe’s growing demand for AI infrastructure.
Trump’s visit to the UK strengthens the economies of the two nations
Earlier on September 15, senior officials in the US revealed that the American president was planning to announce economic deals exceeding $10 billion during his second visit to the United Kingdom.
“The trip to the U.K. is going to be incredible,” Trump told reporters Sunday. He said Windsor Castle is “supposed to be amazing” and added: “It’s going to be very exciting.”
The visit will feature a collaboration in science and technology, a sector anticipated to bring billions in new investments. The officials who shared these details about Trump’s trip wished to remain anonymous due to the confidential nature of the discussion.
They also stated that there is a likelihood that Trump and Keir Starmer, UK’s Prime Minister, might announce a defense technology cooperation deal and boost relationships between major financial centers in the two countries.
Some of these economic deals may be announced during a business reception that Rachel Reeves, the Chancellor of the Exchequer, will host, where the two leaders will be present. Other top US tech executives attending the event include Jensen Huang from Nvidia, and Sam Altman from OpenAI. They will participate in roundtable talks on Thursday, September 18, at Chequers, the prime minister’s residence.
These economic programs came alongside previous efforts to sign a significant deal that would ease the construction of nuclear power plants. The two countries will utilize each other’s safety checks on reactor designs that will accelerate the approval process.
Even though some economic deals are progressing smoothly, US officials have highlighted that Trump’s announcements will likely not include a deal to loosen US tariff policies on scotch whiskey. Notably, this is what Starmer has been actively pushing for.
The officials also pointed out a likelihood that the announcements will not address Trump’s ongoing worries brought about by the UK government’s ability to regulate US-based tech firms such as Apple and Alphabet, in connection with their control over smartphones.
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Source: https://www.cryptopolitan.com/google-to-invest-6-8b-in-uk-ai/