Healey’s grid pledge faces test as data centre pipeline stalls Tech John Healey’s Budget pledge to fast-track electricity connections for British data centres faces an immediate test, as new research shows only 13 per cent of planned capacity is under construction. The Chancellor announced a new Data Centre Covenant on Wednesday, offering strategically important projects priority access to Britain’s electricity grid in exchange for commitments on [...]
Budget 2026: Healey bets £700m on AI to boost British tech firms Tech John Healey has unveiled more than £700m in funding for AI safety and British tech firms, including a new £40m unit to tackle rogue AI systems. The package, much of which was trailed ahead of Wednesday’s Budget, includes £120m for the AI Security Institute and £165m for biosecurity, as ministers seek to strengthen Britain’s defences [...]
British banks vulnerable after outsourcing AI to US tech giants, Bank of England finds Banking British banks are becoming increasingly reliant on a handful of foreign tech giants to power their AI ambitions, new research from Bank of England and Financial Conduct Authority has revealed, raising concerns over the City’s dependence on overseas infrastructure. The three largest cloud computing providers account for 79 per cent of reported supplier relationships among [...]
Meta unveils $95bn share sale as AI spending drains cash reserves October 26, 2026 Meta has announced plans to raise up to $95bn (£71bn) through share sales to fund its AI expansion, as soaring infrastructure costs put pressure on the Facebook owner’s cash flow. The tech giant said on Monday it would raise $35m through public equity offerings, followed by a further $60bn through a programme allowing it to [...]
Google, OpenAI and Anthropic back £100m UK AI biosecurity lab October 25, 2026 Google Deepmind, OpenAI and Anthropic are backing a new £100m British AI biosecurity laboratory as the government unveils more than £600m in funding to tackle emerging technological threats. The lab will use AI to detect and monitor biological threats, bringing together some of the world’s largest AI developers as ministers seek to strengthen Britain’s defences. [...]
Amazon job cuts hit hundreds as tech giant denies AI link October 8, 2026 Amazon’s latest round of job cuts will affect hundreds of employees worldwide, City AM understands, as the tech giant continues to restructure its business following nearly 30,000 redundancies. The company confirmed on Wednesday that it was reducing headcount across its Stores division, which oversees its core online retail operations, with employees in the UK, US [...]
Digital investment nearly doubles since 2019 yet AI’s growth contributions questioned August 24, 2026 Investment in digital infrastructure has nearly doubled in the space of just five years official data has shown even as economists question whether recent gains in productivity are down to artificial intelligence. A revision of how digital infrastructure spending is calculated by the Office for National Statistics (ONS) has suggested that business investment in digital [...]
AI startup boss warns UK cannot become ‘dependent’ on overseas tech July 15, 2026 UK AI infrastructure company Valarian has raised $50m (£37m) in fresh funding as its boss said countries should focus on controlling AI infrastructure rather than competing to build their own frontier models. The Series A round, led by Silicon Valley investor New Enterprise Associates (NEA), takes the London firm’s total funding to $70m and marks [...]
Londonmaxxing: Capital reclaims European tech crown as money floods into AI and fintech May 28, 2026 London has reclaimed its position as Europe’s leading tech spot, overtaking Paris after a sharp rise in AI investment and a renewed influx of global capital into its startup scene. New figures from Dealroom show London ranked fourth globally in its latest Global Tech Ecosystem Index, behind only Silicon Valley, New York and Boston, after [...]
Barclays names Fractile and Isomorphic Labs among UK’s top AI startups May 18, 2026 Barclays has named AI chip startup Fractile and Google DeepMind spinout Isomorphic Labs among Britain’s top AI companies as investors race to back the next generation of UK tech champions. The banking giant’s Eagle Labs division unveiled its new AI 100 ranking this week, spotlighting the country’s fastest-growing AI businesses amid a record year for [...]