Ellison, the world’s fifth richest man, is a long time backer of Donald Trump (Image: Getty)
One of closest billionaire backers is set to invest £3.9bn in the UK over the next five years. Larry Ellison who founded tech giant Oracle in 1979, has announced plans to expand his company’s operations in the UK by expanding its data centre infrastructure and assisting British businesses in incorporating artificial intelligence (AI). The world’s fifth richest man with an estimated fortune of £130bn, Ellison has been a firm backer of and is a close friend of .
He once sat on the board of Tesla and invested heavily in the Space X founder’s takeover of Twitter. Oracle said in a statement: “The investment will expand Oracle Cloud Infrastructure’s footprint in the UK and help the UK government deliver on its vision for AI innovation and adoption.”
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Oracle founder Ellison is the world’s fifth richest man (Image: Getty)
Prime Minister has pledged to cut bureaucracy in British tech in a bid to attract investment and turn the country into an “AI superpower”.
Technology minister Peter Kyle said: “By working with global tech leaders like Oracle, we’re cementing the UK’s position at the forefront of the AI revolution.
“The UK is determined to lead the world in AI innovation, and today’s announcement from Oracle is a testament to our nation’s growing strength in this sector.
“This $5bn (£3.9bn) investment will accelerate our AI ambitions, providing businesses and public services with cutting-edge cloud infrastructure to drive productivity, enhance security, and unlock new opportunities for growth – driving forward our Plan for Change.”
According to government estimates, AI could be worth as much as £47 billion to the UK each year over a decade.
AI systems capable of producing such growth require vast amounts of computing power, likely to require the development of so-called hyperscale” data centres.
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Starmer has vowed to make Britain an “AI Superpower” (Image: Getty)
It is unclear if Oracle will construct new sites or expand existing ones (Image: Getty)
Oracle, which currently has sites in London and Newport has not confirmed if it plans to construct new data sites or expand existing ones.
The company already counts the UK government as a customer, with the Home Office, Department for Work and Pensions () and the Ministry of Justice already users of their IT services.
Siobhan Wilson, Oracle’s UK head, said: “The UK Government’s vision is clear: use AI to help power the UK’s future.
“Today’s announcement cements Oracle’s commitment to supporting this vision.”
The company could see future growth this year, with its founder’s close relationship potentially becoming useful if President decides to force to sell to an American company.
According to Politico, Oracle and the White House have held talks in recent days about a potential sale of the Chinese company.