Summary of the news:
- NVIDIA is committing £2 billion to catalyze the UK’s AI startup ecosystem and accelerate the creation of new businesses, jobs and transformative AI businesses globally.
- Accel, Air Street Capital, Balderton, Hoxton Ventures and Phoenix Court will join NVIDIA’s investment in the UK market, underscoring their commitment to fostering the UK AI ecosystem.
- This investment will bring new capital and advanced AI infrastructure to major UK hubs like London, Oxford, Cambridge and Manchester, enabling researchers and developers across the country to scale the next generation of AI companies.
NVIDIA today announced a £2 billion investment in the UK market to catalyze the domestic AI startup ecosystem and scale the next generation of transformative AI companies globally. The new capital will be used to drive economic growth, develop more innovative AI technologies, create new businesses and jobs and enable the UK to compete in the global AI market.
Developing AI companies in the UK has proven difficult due to limited access to supercomputers, limited venture capital outside London, rising energy costs, and difficulty for venture capital firms to access major academic institutions, where many researchers are also entrepreneurs. NVIDIA, together with Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court, will accelerate the UK AI ecosystem by providing new capital to AI startups.
“This is the age of AI, the big bang of a new industrial revolution,” said Jensen Huang, founder and CEO of NVIDIA. “The UK is in a Goldilocks period, where world-class universities, bold startups, leading researchers and cutting-edge supercomputers converge. There has never been a better time to invest in the UK – AI is pioneering new sciences and sparking entirely new industries. With new capital and advanced infrastructure, we are redoubling our efforts to enable the UK to lead the next wave of AI innovation.”
The investment will expand access to capital in key UK economic hubs, AI growth zones and deep tech ecosystems like London, Oxford, Cambridge and Manchester. NVIDIA’s investment, combined with new world-class AI infrastructure, will empower researchers and developers nationwide, fueling the launch and growth of AI startups.
“NVIDIA’s investment is a major vote of confidence in the United Kingdom, now and for the long term,” said British Prime Minister Sir Keir Starmer. “By supporting our startups, empowering our researchers and connecting capital to talent, this partnership will create jobs, drive new industries and ensure the UK remains at the forefront of global leadership in AI.” »
NVIDIA is committed to working closely with the UK’s leading business founders and venture capital firms – particularly in London, home to world-renowned academic AI labs – and partnering with top UK-based funds to ensure capital and compute reaches the most ambitious entrepreneurs and most dynamic regions, including the UK government’s recently announced AI Growth Zone.
Following the recent commitment aiming to manufacture up to half a trillion dollars worth of AI supercomputers in America, the investment will be domiciled in the US and enabled in the UK, celebrating the transatlantic partnership between the two countries. NVIDIA is deliberately investing in the UK’s future, opening up opportunities for the next generation of British innovators.
“Together with NVIDIA, we are accelerating the growth of UK AI startups,” said Sonali De Rycker, Partner at Accel. “World-class computing and new capital will empower the next wave of AI entrepreneurs and startups, create new jobs and enable the UK to further compete in the AI race. The UK has long been a hotbed of AI talent, with a strong community of world-class researchers, founders and universities, and this new investment will supercharge the AI flywheel.”
“We have embarked on a new journey in which scaling AI unlocks capabilities that, when we started in this industry over a decade ago, would have been considered magical,” said Nathan Benaich, general partner at Air Street Capital. “The UK has world-class talent and research, but infrastructure has not kept pace. This commitment aims to close this gap by providing UK founders with the resources to build globally significant AI companies.”
“We are in the midst of a seismic technological shift as people and businesses around the world increasingly rely on smarter hardware and software,” said James Wise, partner at Balderton Capital. “The UK is fortunate to be home to some of the teams and companies leading this wave. The challenge we face, however, is how to overcome constraints such as the cost of energy or the ability to access compute. Investments from companies like Balderton and companies like NVIDIA will help smooth the way, so that more global winners can build and thrive here in the UK.”
“The UK has the talent, research institutes and entrepreneurial drive to build world-leading AI companies, but turning game-changing ideas into global impact requires collective action,” said Hussein Kanji, Founder and Partner at Hoxton Ventures. “We are delighted to partner with NVIDIA to commit resources to help Britain’s brightest founders bring their innovations to market and build the next generation of transformational AI companies. »
“Britain has the science and talent. This collaboration with NVIDIA puts in their hands the capital and computing power needed to scale globally,” said Saul Klein, founder and executive chairman of Phoenix Court. “With almost 800 UK venture-backed companies generating revenues of over $25 million, the opportunity is now to support the next wave of truly differentiated AI companies solving real-world challenges.”