News that Coreweave is to set up in London with an AI research and revelopment centre is interesting for insurtechs and insurers alike. AI can really join the dots on data when it comes to pricing risk, or processing claims. Here’s the word;
CoreWeave, the leading specialized cloud provider for AI, today announced that it has opened an office in London as its European headquarters as part of a broader expansion into the continent. The new UK expansion represents a £1 billion investment to bolster the country’s AI potential, and will create job opportunities across engineering, operations, finance and go-to-market. CoreWeave plans to open two UK data centres in 2024 with further expansion planned in 2025.
“We are seeing unprecedented demand for AI infrastructure and London is an important AI hub that we are investing in. Expanding our physical footprint in the UK is an important milestone in the next phase of CoreWeave’s growth,” said Mike Intrator, Cofounder and Chief Executive Officer, CoreWeave. “CoreWeave’s infrastructure will fill a void in the cloud market by providing AI enterprises with localized high-performance compute solutions that will help build and deploy the next generation of AI applications.”
http://www.coreweave.com
Prime Minister Rishi Sunak said: “Companies like CoreWeave are powering the future of AI innovation, and I am proud that they’ve backed the UK with a £1 billion investment into UK data centres and have established their European headquarters here – further cementing the UK’s position as an AI and tech superpower.
“We’re leaving no stone unturned to make the UK the best place for pioneering companies like CoreWeave to grow their roots. With the third highest number of AI companies and private investment in AI in the world, it’s clear our plan is working.”
Secretary of State of Science, Innovation, and Technology, Michelle Donelan said: “CoreWeave’s decision to base their European HQ here in London is not just a sign of our tech investment prowess, it is a resounding vote of confidence in our approach to AI and innovation. Today’s £1 billion investment will bring two new data centres to our shores, a vital tool in helping to develop the AI breakthroughs of tomorrow.
“It will also lead to new, highly paid jobs and countless opportunities for our brightest AI minds and start-ups as the UK continues to cement its global AI powerhouse credentials. Our message is clear – when it comes to investment, scaling-up, and innovation, the UK is the perfect home from home.”
CoreWeave’s new European headquarters in London is strategically located given the tremendous AI talent in the UK. The investment in the UK builds on the UK government’s established leadership fostering global awareness and engagement on responsible AI and the country’s commitment to drive investment with plans to upskill millions across the UK in AI. CoreWeave’s presence in the region will support the continued expansion of AI labs and enterprise customers across the UK, bringing much needed computing power to the UK.
CoreWeave’s existing data centres support some of the largest deployments of high-performance GPU clusters in the world, and the infrastructure through which those clusters are consumed is designed with engineers and innovators in mind. Trusted by leading AI labs and enterprises, CoreWeave Cloud manages complexity through automation to deliver the most performant and efficient cloud infrastructure for AI workloads.
INDUSTRY COMMENT
Dan Shellard, Partner at Breega, believes that this move is a testament to the UK’s current AI capabilities and a beacon of its potential to lead the global AI revolution.
“Despite questions around London’s standing as an innovation and business hub, it remains one of the world’s most exciting cities for building a start-up business. The UK is well-positioned to become a leader in AI, retaining key characteristics essential for companies seeking long-term growth and financial success. These include access to top global talent, links with leading academic institutions, a large pool of potential customers and the ability to secure capital.
The UK’s AI sector has boomed over the last decade, with the number of AI companies expanding from around 200 to over 1700. This growth includes well-funded, rapidly scaling GenAI companies like Synthesia and StabilityAI. Continued investment from tech giants and governments will elevate the UK’s status as a top destination for AI scientists and researchers, further stimulating growth in the AI entrepreneurial ecosystem”
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