All posts tagged: 1.1bn

UK Government sets out £1.1bn AI Hardware Plan 

UK Government sets out £1.1bn AI Hardware Plan 

Published by skeptic

The new AI Hardware Plan will support British companies developing chips and semiconductor technologies, with Silicon Valley backed funding. Announced by Technology Secretary Liz Kendall at London Tech Week, the AI Hardware Plan will help to boost Britain’s sovereign artificial intelligence capabilities through supporting domestic industries. According to the UK Government, the global AI chips market is expected to reach one trillion dollars in the early 2030s. If Britain could secure just 5% of this market, it would bring $50bn in revenue to the UK with tens of thousands of highly paid jobs in tech. The AI Hardware Plan includes: £750m for a national AI supercomputer A new national AI supercomputer will bring together current and next generation processors to run complex tasks more efficiently, in a heterogenous mixed-chip system. British-designed chips will be a crucial part of the system, which will join Isambard-AI and Zenith (alongside DAWN) as part of the UK’s AI Research Resource by 2030. Of the £750m, £400m will go towards equipping the UK’s AI supercomputer with next-generation chips. £150m of this will …

Harry Styles Wembley residency set to generate £1.1bn as fans outspend Taylor Swift and Oasis tours

Harry Styles Wembley residency set to generate £1.1bn as fans outspend Taylor Swift and Oasis tours

Published by Daniella Wilson

Get the inside track from Roisin O’Connor with our free weekly music newsletter Now Hear This Get our free music newsletter Now Hear This Get our free music newsletter Now Hear This Harry Styles’ upcoming 12-night residency at Wembley Stadium is projected to inject a staggering £1.1 billion into the economy, driven by dedicated fan spending despite ongoing cost-of-living pressures, new figures reveal. Ticket-holders for the Together, Together tour – which is exclusively limited to London in the UK, are anticipated to spend an average of £981 each. This comprehensive figure covers travel, accommodation, merchandise, and other associated costs, according to a survey commissioned by Barclays bank. This average outlay significantly surpasses the £848 spent by fans attending Taylor Swift’s Eras Tour and the £766 for Oasis Live ’25 shows. The disparity is largely attributed to Styles’ UK dates being confined solely to the capital, leading to higher travel and accommodation expenses compared to tours spread across four different UK locations. Beyond the financial commitment, the concerts are fostering a vibrant fan culture. Styles’ devotees …

Aldi makes £1.1bn egg change for all UK stores | UK | News

Aldi makes £1.1bn egg change for all UK stores | UK | News

Published by Sam Flores

Aldi has announced a major £1billion move that will be welcome news to British farmers. The German supermarket giant, which has more than 1,050 stores across the UK, has committed to investing £1.1billion over five years into British egg production to further strengthen and support its domestic supply chain. Aldi says it sells more than 1,500 tonnes of British eggs every week, equivalent to around 2.5 million packs, sourced from poultry farms across the UK. The investment is underpinned by newly established five-year long-term agreements (LTAs) with the supermarket chain’s egg suppliers, running to the end of the decade. Aldi says the agreements “provide farmers with greater financial certainty, enabling long-term investment in efficiency, infrastructure and animal welfare”. Aldi is the second-largest retailer in the country for free-range egg volume. Julie Ashfield, chief commercial officer at Aldi UK, said: “Our egg supply depends on British farmers, and we want to give them the certainty they need to plan ahead. “By working closely with our suppliers through long-term agreements, we’re able to provide the stability and …

Driverless car firm Wayve bags £1.1bn investment ahead of major UK launch

Driverless car firm Wayve bags £1.1bn investment ahead of major UK launch

Published by Daniella Wilson

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email British self-driving car firm Wayve has secured a significant $1.5 billion (£1.1 billion) in funding, including major backing from Uber, Microsoft, and chip giant Nvidia, as it prepares to launch robotaxis on UK roads. The bulk of this capital, $1.2 billion dollars (£890 million) stems from a Series D funding round, one of the largest ever for a British start−up. This round, which values Wayve at $8.6 billion (£6.4 billion), saw participation from institutional investors and car makers, including Mercedes-Benz, Nissan, and Stellantis. Uber’s additional investment specifically targets its driverless taxi services. The funding arrives as Wayve prepares to roll out commercial robotaxi trials in London later this year, in partnership with ride-hailing platform Uber. The company aims for a full commercial launch in the city by 2026, with ambitions to integrate its “supervised autonomy software” into consumer vehicles from 2027. Wayve’s innovative technology relies …