Google has announced a £5bn investment in the UK over the next two years to meet growing demand for artificial intelligence services, in a boost for the government. The investment, which coincides with the opening of its new datacentre in Waltham Cross, Hertfordshire, is expected to create thousands of jobs, the US tech company said.
Chancellor Rachel Reeves, who is attempting to drive growth amid a lacklustre economy, described the investment as a 'vote of confidence' in the UK. She will officially open the datacentre on Tuesday, as Google partners with Shell to manage its renewable energy supply in the UK.
The investment includes capital expenditure, research and development, and engineering, with a focus on AI research in science and healthcare through Google DeepMind. Google predicts the investment will help create 8,250 jobs annually at UK businesses.
The announcement comes as US President Donald Trump begins a state visit to the UK, with OpenAI and Nvidia also reportedly set to announce billions in UK datacentre investments this week. Google's parent company, Alphabet, recently surpassed a $3tn market capitalisation.
Reeves said the investment reverses 'decades of underinvestment' by slashing red tape and reforming the planning system. Google DeepMind CEO Demis Hassabis noted the UK's history as a tech hub, from Lovelace to Turing, and said the investment continues that legacy.
