Nscale taps lenders for $900m to fuel AI data centre splurge Tech British data centre builder Nscale has landed a $900m (£673m) credit line from some of Wall Street’s biggest banks to fuel its global expansion, even as investors increasingly scrutinise the sector’s breakneck spending. The London-headquartered company said the financing will support the construction of new AI data centres across Europe, the US and Asia-Pacific as [...]
Nscale and ElevenLabs power £41bn AI boom as Britain cements unicorn crown Tech Britain’s AI sector has more than tripled in value in just a year, with fast-growing firms including Nscale and ElevenLabs now worth a combined £41bn as the UK strengthens its position as Europe’s leading startup hub. New research from the Hurun UK Unicorn Index shows the country’s nine AI unicorns have surged to a combined [...]
UK is of ‘marginal relevance’ – Nick Clegg dismisses sovereign AI push as ‘dishonest’ Tech Nick Clegg has told City AM that the UK’s AI sovereignty debate is “slightly dishonest” due to our “marginal relevance” as a global tech player. The ex-president of global affairs at Meta also said that policy decisions taken in recent years have limited the role the UK can now play in the development of AI [...]
Why Westminster’s finest keep ending up on Big Tech’s payroll March 26, 2026 There is a sense of irony in that the employees Silicon Valley’s tech giants most want to hire, are actually the ones who spent years in the public sector trying to work out what to do about them. Nick Clegg, who served as deputy Prime Minister sat through more than one anxious Whitehall discussion about [...]
AI minister defends billions amid ‘phantom funding’ scrutiny March 10, 2026 Britain’s multi billion-pound push to build sovereign AI capacity will inevitably include projects that are still taking shape rather than fully deployed capital, the UK’s AI minister told City AM, as scrutiny intensifies over the government’s headline investment figures. Kanishka Narayan, who was appointed as AI and online safety minister last September, said the scale [...]
Nscale lands $2bn funding amid UK push to grow AI infrastructure March 9, 2026 London-based AI infrastructure firm Nscale has raised $2bn (£1.6bn) in funding, raising its valuation to $14.6bn as Britain seeks to get ahead of the global AI computing race. The series C round, led by Aker ASA and 8090 Industries, has been backed by heavyweight investors including Nvidia, Dell Technologies, Lenovo, Citadel and Point72. The funding [...]
Nscale bags $1.4bn loan as AI infrastructure shifts to private credit February 13, 2026 London-based AI cloud provider Nscale has secured a $1.4bn (£1.03bn) delayed draw term loan backed by GPUs, in one of the largest private credit deals yet tied directly to AI hardware deployments in Europe. The facility was led by funds managed by Pimco, Blue Owl and LuminArx Capital Management, with support from additional asset managers [...]
Intel: UK revenue slashed by over £1bn as profit cut October 6, 2025 Revenue at the UK arm of technology giant Intel has been slashed by almost $1.5bn (£1.1bn) as its profit was cut significantly during its latest financial year. The division of the US group has posted a revenue of $3.3bn for 2024, down from the $4.7bn it achieved in 2023. New accounts filed with Companies House [...]
Nvidia bets £11bn on UK AI with GPU deal, amid Trump state visit September 17, 2025 Nvidia is pumping up to £11bn into Britain’s AI ecosystem in a move that will see the UK host Europe’s largest GPU cluster by 2026, with 120,000 of its latest Blackwell Ultra chips deployed across new data centres. The investment, unveiled late on Tuesday and timed to coincide with President Donald Trump’s state visit to [...]
Trump visit brings ‘historic’ £30bn investment into UK tech and AI September 16, 2025 Microsoft has announced its largest ever UK investment, pledging £22bn to expand AI infrastructure and build the country’s largest supercomputer, as president Donald Trump touched down in London for his state visit. The commitment forms part of a wider US-UK Tech Prosperity Deal, encompassing £31bn of American investment across AI, quantum computing, and advanced nuclear [...]