Blackstone to Invest £10 Billion in UK’s Largest AI Data Center,Boosting Britain’s Tech Ambitions
London, September 27, 2024 – Blackstone, a leading global investment firm, has announced plans to invest £10 billion (approximately $12.5 billion) in the construction of one of Europe’s largest AI data centers in Blyth, Northumberland, UK. The project, set to commence next year,signifies a significant boost to Britain’s burgeoning AI sector and its ambition to become a global leader in the field.
The UK is already home to the highest number of data centers in Western Europe. Blackstone’s investment will further strengthen thecountry’s AI infrastructure, providing vital computing power to support research and development by local businesses, academic institutions, and multinational companies. This, in turn, is expected to accelerate the adoption of AI across various industries in the UK.
This new investment is a huge vote of confidence in the UK, said Keir Starmer, Prime Minister of the UK. It shows that Britain is open for business and is once again playing a leading role on the global stage.
The Blyth project is expected to create over 4,000 jobs, including1,200 dedicated to the construction of the data center. Blackstone has also pledged to invest £110 million in a fund supporting skills training and transportation infrastructure development in the Blyth region.
This investment comes at a time when AI data centers are increasingly becoming a key asset for investment firms. Earlier this year,BlackRock, the world’s largest asset manager, partnered with Microsoft and Mubadala Investment Company (MGX) to launch a $30 billion AI infrastructure investment fund.
The UK government has been actively promoting its AI sector, with initiatives such as the AI for Good program and the establishment of the National AI Strategy. Blackstone’s investment is a testament to the growing confidence in the UK’s potential to become a global AI hub.
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