Nvidia, one of the world’s most important chip designers, reportedly announced a $683 million investment in a UK-based AI infrastructure company that is wiping its cryptocurrency miners in 2024.
According to a Bloomberg report on Wednesday, Nvidia CEO Jensen Huang said investment in Nscale, the AI arm of crypto mining company Arkon Energy, will be part of efforts to develop UK infrastructure on artificial intelligence. NSCALE spun Arkon in May 2024, providing AI cloud services across Europe.
https://www.youtube.com/watch?v=cl1nv-uxag0
This investment came in the UK government’s push to develop the country’s AI infrastructure. Nvidia said it will partner with NSCALE to expand its UK capacity to 60,000 GPUs.
“Sovereign AI infrastructure is key to national resilience, economic growth and strategic autonomy,” said NSCALE CEO Josh Payne on the expansion of the UK. “This milestone deepens our commitment to providing important AI infrastructure for the next industrial revolution.”
Prime Minister’s plan for British AI
In January, British Prime Minister Kiel Starmer said the government was planning to adopt the plan with 50 recommendations “to acquire AI opportunities.” At the time, NSCALE, Vantage Data Centers and Kyndryl had pledged a total of about $17 billion for their investments.
California-based Nvidia defeated all major tech companies and reached a market capitalization of $4 trillion in July. Some experts have suggested that the stock price surge behind the milestone was driven by investors’ trust in pushing for technology that deals with AI.
The Milestone marked Nvidia’s rating just above the total market capitalization of all cryptocurrencies.
