Google Invests £5bn in UK AI, Creating 8,250 Annual Jobs
Google has announced a significant £5bn investment in the UK's artificial intelligence sector, set to generate 8,250 jobs annually for local businesses. This comes amidst a rise in pre-tax profits for Google UK Limited, despite a reduction in its workforce.
The tech giant, owned by Alphabet, plans to invest the funds over the next two years, focusing on AI infrastructure and scientific research. This includes bolstering Google DeepMind, the company's AI division, in science and healthcare sectors.
The investment follows a year of growth for Google UK Limited, with revenues increasing to £2.89bn in 2024, up from £2.81bn in 2023. Pre-tax profits also rose to £550m, a £48m increase from 2023. The company attributed this growth to higher demand for its services.
However, Google UK Limited also reduced its headcount by nearly 400 jobs in 2024, bringing the total number of employees down to 7,029 from 7,422. Despite this, the company remains optimistic about its UK presence, as evidenced by the opening of a £735m data centre in Hertfordshire in 2024.
Google's £5bn investment in UK AI is expected to stimulate job growth and boost the local economy. The company's commitment to the region is further underscored by its recent revenue and profit increases, despite a reduction in workforce.
Read also:
- Amazon Halts Drone Deliveries After Arizona Crashes
- US Energy Transition: Coal Plants Struggle, States Push Renewables
- Musk threatens Apple with litigation amidst increasing conflict surrounding Altman's OpenAI endeavor
- U.S. Army Europe & Africa Bolsters Regional Security with Enhanced Partnerships & Deterrence
