During Tech Week in London, Sir Keir Starmer highlighted Britain's commitment to artificial intelligence and its openness for business. He announced a billion-pound investment to enhance computing power and a program to educate schoolchildren in AI software.
However, the UK tech sector is experiencing significant shifts. Alphawave, a semiconductor company, is slated to be acquired by Qualcomm. This comes after a decline in Alphawave's share value since its 2021 IPO.
Spectris, a FTSE 250 company, has received a takeover bid. Wise, a financial technology firm, is planning to move its primary listing to New York. These moves, alongside Deliveroo's potential acquisition, signal a trend of companies leaving the London Stock Market.
This exodus presents a challenge to the UK's AI investment objectives. Starmer has proposed "AI growth zones" and aims to leverage AI to improve public services. Nvidia's Huang has acknowledged the UK's strengths in AI investment, positioning the UK as a global leader.