Nvidia, a leading chip designer worldwide, has reportedly announced a $683 million investment in a UK-based AI infrastructure firm that emerged from a cryptocurrency miner in 2024.
As per a Bloomberg report on Wednesday, Nvidia CEO Jensen Huang mentioned that the investment in Nscale, the AI branch of crypto mining company Arkon Energy, aims to enhance the UK’s artificial intelligence infrastructure. Nscale was spun off from Arkon in May 2024 to provide AI cloud services across Europe.
This investment aligns with the UK government’s initiative to develop its AI infrastructure. Nvidia stated it would collaborate with Nscale to increase the UK’s capacity to 60,000 GPUs, which will be installed in some of Nscale’s data centers by 2026.
“Sovereign AI infrastructure is crucial for national resilience, economic growth, and strategic autonomy,” Nscale CEO Josh Payne remarked about the UK expansion. “This milestone reinforces our commitment to supplying essential AI infrastructure for the next industrial revolution.”
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Prime Minister’s plans for AI in the UK
In January, UK Prime Minister Keir Starmer announced that the government planned to implement a strategy featuring 50 recommendations “to seize the opportunities of AI.” At that time, Nscale, Vantage Data Centres, and Kyndryl pledged about a total of $17 billion for investment.
With headquarters in California, Nvidia surpassed all major tech companies, achieving a market capitalization of $4 trillion in July. Experts suggest that the impressive stock price surge behind this milestone stemmed from investor confidence in advancing AI-related technologies.
This milestone positioned Nvidia’s valuation just above the total market capitalization of all cryptocurrencies, which has remained around $4 trillion since July.
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