Nvidia is set to invest £2bn into the UK’s artificial intelligence start-up ecosystem as part of what its CEO has called the “age of AI.” Beneficiaries of the programme are expected to include Revolut and Wayve.

In a statement released on September 18, Nvidia said the funds will be used to accelerate AI innovation, with the broader objective of establishing new companies and employment opportunities in the UK. The initiative is backed by venture capital partners Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court.

The investment will improve access to financing in regions designated as “AI Growth Zones,” particularly London, Oxford, Cambridge and Manchester.

The announcement follows a separate pledge earlier this week from Nvidia, Microsoft and OpenAI of over $40bn to strengthen UK AI development. Microsoft committed $30bn, its largest UK investment on record, while OpenAI unveiled its Stargate venture and Nvidia joined forces with CoreWeave, Nscale and Microsoft on $15bn worth of AI factories.

Additionally, Nvidia revealed plans to purchase $5bn in Intel stock as part of an agreement to co-develop future generations of data centre and PC products.