Around £300 million has been facilitated to fund expansion and construction of two data centres in North Lanarkshire, Scotland.
The company, DataVita, unlocked the financing through a financial guarantee from the National Wealth Fund and believe it will help establish the area as a key location for AI infrastructure in the UK.
The two developments is expected to create around 600 jobs during construction and support 3400 careers in technology, engineering and construction.
Kanishka Narayan, UK AI Minister, said: “AI is already helping scientists discover new medicines, supporting better public services and helping businesses get more done. The countries that build the infrastructure behind this technology will be the ones that attract investment, create jobs and help shape the industries of the future.
“That’s why today’s announcements matter. They will help ensure Scotland is at the forefront of one of the biggest economic opportunities of our time, bringing investment, reindustrialisation and opportunities to communities like Lanarkshire.”
The investment will expand DataVita’s existing DV1 data centre and fund the construction of a new data centre, DV3.
The funding comes as AI is beginning to be used more in renewable energy generation and storage but also follows reports that the technology is contributing more to fossil fuels than it takes away from.
The UK Government estimates that, fully adopted, AI could be worth up to £47 billion a year to the UK economy over the next decade.
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