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<p>The UK’s AI market is valued at over $21 billion and is estimated to grow to over
1 trillion by 2035. Recently we have seen the largest investment ($1 billion) into
a UK AI start-up (Wayve), with several AI companies opening their European headquarters
here. Google and Microsoft have recently announced plans to invest $4.2 billion in
the UK, demonstrating confidence in the UK’s approach to AI. To encourage further
investment, we host the annual Global Investment Summit, we have tax incentives available
for AI companies, and we are delivering £1.5bn of investment into compute, all of
which will strengthen our position as an attractive place to invest.</p>
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