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UK benefits from tech investments of over £2 billion in one week

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HM Treasury have published a press release pointing out that over £2 billion has been invested by leading tech firms in the UK in the space of just one week.

Coreweave, the AI (artificial intelligence) firm, are investing £1 billion in the UK and have confirmed that their new European headquarters will be based in London.

Siemens Healthineers have also announced an investment of £250 million to design and manufacture superconducting magnets for MRI scanners at a new facility in North Oxfordshire.

This news follows Scale AI, the data infrastructure company for AI, announcing that it will locate its first European headquarters in London and the announcement about Wayve, a British business, receiving over $1.05 billion for developing the next generation of AI-powered self-driving vehicles in the UK.

According to statistics presented by HM Treasury, around half of all AI private capital investment in Europe is in the UK, and hundreds of AI companies are starting up in the UK every year. The AI sector employs more than 50,000 people in the UK and contributes more than £3.7 billion to the UK economy every year. Estimates suggest that the UK AI market will be worth over $1 trillion by 2035.

See: https://www.gov.uk/government/news/leading-tech-firms-invest-over-2-billion-in-the-uk-in-one-week

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