UK to buy AI chips from British firms to retain them

The UK government plans to make strategic purchases of AI chips from British companies to prevent them from leaving for the US. Technology Secretary Liz Kendall will outline the initiative at London Tech Week, which includes taxpayer-backed funding and skills investment. The broader plan targets 5% of the global chip market, worth roughly £37 billion in revenue. The government has already committed £100 million through ARIA's scaling compute programme.