Global cloud computing firm Oracle has committed to investing £3.9bn in the UK.
The Texas-headquartered firm plans to improve its data centre infrastructure and drive AI adoption among local businesses.
The firm was co-founded by business tycoon Larry Ellison, who is currently 4th on the Forbes Real Time Billionaires List with a net worth of $189.6bn.
US President Donald Trump labelled Ellison as ‘sort of the CEO of everything’ and ‘an amazing man’ when the 80-year-old joined Sam Altman of OpenAI and Masayoshi Son of Softbank at the White House to announce The Stargate Project in January this year.
Oracle says the substantial investment is part of its strategy to meet the growing demand for advanced cloud solutions.
The company currently operates data centres in London and Newport and is the main sponsor of Formula One racing team Red Bull Racing.
“The UK Government’s vision is clear: use AI to help power the UK’s future,” said Siobhan Wilson, head of Oracle UK.
“Today’s announcement cements Oracle’s commitment to supporting this vision. Oracle provides the world’s best cloud infrastructure for AI learning and inferencing.
“Our cloud investment will help ensure that customers can use AI to achieve new levels of productivity, unlock growth, and benefit from superior performance and security, all with improved cost savings.”
Secretary of State for Science, Innovation and Technology, Peter Kyle MP, added: “The UK is determined to lead the world in AI innovation, and today’s announcement from Oracle is a testament to our nation’s growing strength in this sector.
“This $5bn investment will accelerate our AI ambitions, providing businesses and public services with cutting-edge cloud infrastructure to drive productivity, enhance security, and unlock new opportunities for growth.”
The latest news joins a string of headline stories regarding the company, after recent rumours that the White House is considering a deal for it to run TikTok.
Red Bull Racing also recently announced that it was expanding its use of the firm’s AI and cloud offerings.