US investment giant BlackRock is set to inject £500m into enterprise data centres across the UK as part of a significant expansion of its British operations. Reports Technology News
The move is aimed at strengthening the country’s digital infrastructure at a time when demand for computing power and data storage is surging, driven by the adoption of emerging technologies such as AI.
Announcing the investment, BlackRock chairman and chief executive Larry Fink said: “Today we are committing half a billion pounds to enterprise data centres nationwide, advancing digital infrastructure for British businesses.”
The commitment forms part of a wider £7bn capital allocation BlackRock plans to direct into the UK market over the next year.
Details of BlackRock’s investment were revealed by the Department for Business and Trade, alongside a series of major financial sector pledges from other US firms, ahead of US President Donald Trump’s state visit later this week.
In total, more than £1.25bn in private sector commitments have been unveiled, with contributions from companies including PayPal, Bank of America, Citi Bank and S&P Global.
PayPal will invest £150m in UK “product innovations”, with “AI-enabled shopping experiences” being mentioned by chief executive Alex Chriss.
“This commitment from America’s leading financial institutions demonstrates the immense potential of the UK economy, our strong relationship with the US and the confidence global investors have in our Plan for Change, which is making the UK the best place in the world to invest and do business,” said Chancellor Rachel Reeves.
“These investments will create thousands of high-skilled jobs from Belfast to Edinburgh, kickstarting the growth that is essential to putting money in working people’s pockets across every part of the United Kingdom.”
