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NVIDIA CEO announces in London!
On June 10, NVIDIA CEO Jensen Huang announced at London Tech Week: an AI lab will be built in Bristol, UK! The new UK Prime Minister Starmer immediately responded that this is an 'employment engine', but this is just another instance of 'technological colonialism' by Silicon Valley giants. It is worth noting that Bristol was just named 'Europe's most expensive tech hub' by The Economist last year, with average salaries 32% lower than London; NVIDIA is clearly here to take advantage. Although Huang claims to be 'driving innovation', the real calculation is the £500 million AI subsidy promised by the UK government, enough to buy 100,000 H100 chips!
The UK's own AI star DeepMind was acquired by Google for $3 billion back in 2014, and now there isn't a single competitive AI company in the country. Data shows that the talent outflow rate for AI in the UK is as high as 41%, with even Cambridge PhDs heading to Silicon Valley to write code. This time, NVIDIA seems to bring 300 jobs, but compared to its 28,000-strong R&D team at its headquarters in the US, that's just a drop in the bucket.