Awani Review

Complete News World

AI: American Coreweave invests £1bn in UK

AI: American Coreweave invests £1bn in UK

LONDON (awp/afp) – American cloud computing company CoreWeave, which specializes in artificial intelligence (AI), announced on Friday that it plans to invest 1 billion pounds (1.16 billion euros) in the United Kingdom, following other significant investments. The department announced this week.

CoreWeave says it opened its European headquarters in London as part of an expansion plan in Europe and plans to open two data centers in the UK this year before additional sites next year.

“We are seeing unprecedented demand for AI infrastructure and London is an important hub,” the company notes.

British Prime Minister Rishi Sunak welcomed the investment, which would “establish the UK's position as a technology and artificial intelligence superpower”.

It says the UK has the third highest number of AI companies and investments in the world.

CoreWeave, largely funded by Nvidia, was founded in 2017 and has its world headquarters in New Jersey in the eastern United States, valued at $19 billion, according to the US press.

Wave, a British start-up, had already announced on Tuesday that it was raising over one billion dollars in funding led by Japanese tech giant SoftBank to develop artificial intelligence systems for autonomous vehicles.

Wave, founded in 2017 and a pioneer in the development of AI embedded in vehicles, received $1.05 billion in funding with contributions from semiconductor maker Nvidia and Microsoft.

American AI infrastructure company Scale AI announced earlier in the week that it has chosen London as its European headquarters.