UK tech race at risk from ‘far too cautious’ government, warns watchdog Tech Britain risks falling behind in the global tech race unless the government takes greater risks backing British startups, the chairman of Parliament’s spending watchdog has warned. In a report published on Wednesday, the Public Accounts Committee (PAC) urged UK Research and Innovation (UKRI) to take more equity stakes in companies it funds, arguing taxpayers are [...]
Nscale eyes second $45bn deal with Anthropic after Microsoft setback Tech British AI infrastructure firm, Nscale, is in talks to secure a second $45bn (£33.5bn) computing deal with Anthropic, just a day after Microsoft pulled out of its flagship UK data centre project. The Nvidia-backed company is negotiating an agreement to supply the US AI giant with computing power from a second facility at its Monarch [...]
AI voice firm Elevenlabs hits $22bn valuation in fresh boost for UK tech Tech London-based ElevenLabs has hit a $22bn (£16bn) valuation after completing a $300m employee share sale, marking another sharp jump in value for one of Britain’s fastest-growing AI firms. The voice AI group’s valuation has doubled since its $11bn Series D in February, when it raised $500m, and is now more than 2,000 times the $9m [...]
London bags $9bn US AI firm Replit’s first overseas office September 9, 2026 Replit, the $9bn (£6.64bn) US AI coding start-up, has picked London for its first international office as the capital continues to attract some of Silicon Valley’s fastest-growing AI companies. The San Francisco-based company has opened in King’s Cross and will use London as the base for its European operations, with plans to double its local [...]
Ofgem data centre crackdown risks ‘driving AI investors away’ from UK July 29, 2026 Ofgem’s plans to crack down on speculative data centre projects have prompted warnings that new grid connection fees could make Britain a less attractive destination for AI investment, even as the industry backs efforts to clear stalled schemes from the queue. The regulator has launched a consultation on proposals to free up electricity grid capacity [...]
Burnham risks ‘big mistake’ on AI with tech department shake-up July 20, 2026 Andy Burnham has been warned that breaking up the government department behind Britain’s artificial intelligence strategy could unsettle global investors and damage the country’s standing as a technology hub. The incoming prime minister is reportedly considering abolishing the Department for Science, Innovation and Technology (DSIT) and splitting its responsibilities between the Department for Business and [...]
Energy minister says AI must ‘bring down bills’ as data centres squeeze the grid July 15, 2026 Power-hungry data centres must help bring down bills rather than place further strain on Britain’s squeezed electricity network, the energy minister has said. Michael Shanks warned public support could drop for the rapid expansion of AI infrastructure unless households saw a clear economic benefit. “We need to deliver energy security here at home, but we [...]
Starmer: Britain must ‘not stick its head in the sand’ on AI June 8, 2026 Sir Keir Starmer has said Britain must not “stick its head in the sand” on artificial intelligence, with the technology set to fundamentally reshape the UK economy. The Prime Minister used his speech at London Tech Week to unveil a major sovereign computing push, new AI skills programmes and a vision for keeping Britain’s fastest-growing [...]
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 [...]
Untrained managers are stalling Britain’s AI returns April 23, 2026 British businesses are pouring copious amounts of capital into AI, but meaningful returns are by no means guaranteed. New research from the Chartered Institute of Management found that only one in 20 managers report real, transformational productivity gains from AI investment. Meanwhile, one in four say they have seen no benefit at all. The CMI’s [...]