Sir Keir Starmer has hailed AI giant Nvidia’s £2 billion investment in the UK’s AI sector as part of the “biggest-ever tech agreement” between the UK and the United States.
The US technology giant announced the package on Thursday, saying it would boost the UK’s artificial intelligence (AI) start-up sector, expand computing infrastructure and provide capital to founders in hubs including London, Oxford, Cambridge and Manchester.
The funding is part of a wider deal agreed between the UK and US during President Donald Trump’s second state visit that will see American firms invest in AI and emerging technologies in Britain.
Addressing the crowd at an event hosted by Nvidia in central London on Thursday evening, the Prime Minister said: “This is the biggest-ever tech agreement between the United States and the United Kingdom.
“When we talk about the special relationship, we think about defence, we think about security, we think about intelligence, and this is really important to the safety of both of our countries.
“Today we put tech up there as a special feature of the special relationship.
“We will look back on today at the signing of that agreement and the flow of investment that that has triggered.
“It’s a really special moment for me.”
Nvidia’s chief executive Jensen Huang marked the occasion by presenting Sir Keir with the bezel, or frame, of the world’s first AI supercomputer, the DGX-1.
He told the audience: “In 2016 I announced a brand new computer – the world’s first supercomputer.
“I have a friend, his name is Elon (Musk), don’t be mad, he’s OK.
“Elon said, ‘Listen, I have someone who would love that’.
“I put it in a box and I drove it up to San Francisco and I got to this little tiny company – it turns out to be OpenAI.
“This is the bezel of the computer.”
Sir Keir laughed off the mention of the Tesla boss, who has frequently criticised the Prime Minister’s leadership.
Among those in attendance at the Nvidia event were US commerce secretary Howard Lutnick and UK Business Secretary Peter Kyle.
Earlier in the day, Mr Huang said: “The United Kingdom is in a Goldilocks moment, where world-class universities, bold start-ups, leading researchers and cutting-edge supercomputing converge.
“There has never been a better time to invest in the UK – AI is unlocking new science and sparking entirely new industries.
“With new capital and advanced infrastructure, we are doubling down to empower the UK to lead the next wave of AI innovation.”
The investment will be made in collaboration with venture funds Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court.
Downing Street said the partnership would strengthen the UK’s position as a global AI leader.
The initiative comes amid long-standing concerns that scaling AI companies in the UK has been hampered by limited access to supercomputing, a concentration of venture capital in London, rising energy costs and barriers between investors and academic institutions.
Nvidia said its investment will help to tackle those challenges and connect researchers, developers and entrepreneurs with the capital and computing resources they need.
